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&lt;p&gt;&lt;span&gt;With the rapid downfall of our economy increasing over the recent months, consumers have been forced to eliminate a percentage of the goods that they normally spend on in order to make ends meet.&lt;span&gt;&amp;nbsp; &lt;/span&gt;As expected, luxury goods are the first to go&amp;#8212;cars, expensive clothing, jewelry, salon treatments, etc.&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;However, there has been a turnaround in the market for luxury goods, especially in the jewelry industry.&lt;span&gt;&amp;nbsp; &lt;/span&gt;Familiar high-end fashion icons such as Versace, Chanel, Louis Vuitton and Tiffany &amp;amp; Co. are pursuing a new power to regain their revenue.&lt;span&gt;&amp;nbsp; &lt;/span&gt;The motif&amp;#8212;Mother Nature.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;p&gt;&lt;p&gt;&lt;span&gt;These world-renown luxury labels have begun introducing environmentally-friendly products into their marketing and advertising.&lt;span&gt;&amp;nbsp; &lt;/span&gt;This May, French luxury composite LVMH Mo&amp;#235;t Hennessy Louis Vuitton took a wager on Edun, an organic-clothing company founded by U2 singer Bono and his wife.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;p&gt;&lt;p&gt;&lt;span&gt;Other companies such as Tiffany &amp;amp; Co. are advertising steps to promote resource conservation.&lt;span&gt;&amp;nbsp; &lt;/span&gt;This summer, customers around the globe will see the windows of this popular jewelry franchise featured with images of coral reefs.&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&amp;#8220;We want to change the way we conceive our business, socially and environmentally&amp;#8221;, said Francois-Henri Pinault, chief executive of PPR SA in an interview with Rachel Dodes and Sam Schechner of &lt;i&gt;WSJ&lt;/i&gt;. &lt;span&gt;&amp;nbsp;&amp;nbsp;&lt;/span&gt;This French retail behemoth sponsored a documentary film that highlights abuse of the environment by man.&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;&amp;#8220;The luxury industry&amp;#8217;s adoption of eco-friendly ideas mirrors the challenges that the world&amp;#8217;s most glamorous brands face.&amp;#8221;&lt;span&gt;&amp;nbsp; &lt;/span&gt;While catering to a younger generation of shoppers who take the environment into consideration more often than the traditional luxury buyers in the aftermath of a failing economy, the industry is attempting to reinvent their brands by promising great design, craftsmanship and service to their clientele.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&lt;p&gt;&lt;p&gt;&lt;span&gt;The Luxury Institute discovered that &amp;#8220;younger and well-to-do consumers seek information regarding corporate social responsibility more so than their older and poorer counterparts,&amp;#8221; according to the &lt;i&gt;WSJ&lt;/i&gt;.&lt;span&gt;&amp;nbsp; &lt;/span&gt;&amp;#8220;Young consumers feel that it is important to care about the environment in order to create a meaningful life&amp;#8221;, said Milton Pedraza, CEO of the Luxury Institute.&lt;span&gt;&amp;nbsp; &lt;/span&gt;A February survey by Cone found that 50 percent of Americans between the ages of 18 to 24 said that they have &amp;#8220;higher expectations of companies to make and sell environmentally responsible products and services during the economic downturn.&amp;#8221;&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;What do you think readers?&lt;span&gt;&amp;nbsp; &lt;/span&gt;Would eco-friendly products encourage you to spend more on luxury items?&lt;span&gt;&amp;nbsp; &lt;/span&gt;Decidedly with more consumer products companies embracing environmentally-friendly practices, suppliers, etc., there will be creation of jobs. And then the demand will be for people skilled in green info, energy utilization, eco-friendly strategies and a whole new gamut of environment-related specializations.&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;span&gt;Are we equipped to handle this influx? Visit our &lt;span&gt;&lt;font color=&quot;#0000ff&quot;&gt;Education&lt;/font&gt;&lt;/span&gt; section to see what colleges and universities are already offering related courses. Visit our &lt;i&gt;Vault Guide to Green Careers&lt;/i&gt; accessible through the &lt;strong&gt;Corporate Responsibility &lt;/strong&gt;tab to see which companies are beginning to&amp;nbsp;go green!&lt;/span&gt;&lt;/p&gt;&lt;p&gt;&lt;b&gt;&lt;i&gt;&lt;span&gt;-Posted by Danielle Correa&lt;/span&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;/span&gt;&lt;/span&gt;&lt;/span&gt;

Aman Singh Das

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