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How Can Mylo Impact The World of Sustainable Luxury?
- 31st Mar 2021
The need for sustainable luxury
The past couple of decades have seen a lot of prominence given to being earth friendly and sustainable. People, businesses and everyone in general has been comparatively more aware of the fact that we all must act and work in a way that does not harm the planet and sustainability is a term that is used far more commonly even in the world of luxury.
Sustainable luxury as a concept sounds ideal but to ensure that is applied practically there has to be a lot of more efforts and all the stake holders have to walk the talk.
Ever heard of Triple Bottom Line?
Almost exactly 27 years ago John Elkington coined this terminology,” triple Bottom Line or TBL.” These are also widely renowned as the 3P’s of sustainability i.e People, Planet & Profitability. This framework on sustainability is gaining some serious importance in today’s world.
What do these 3P’s actually mean?
The main idea was to encourage businesses and organizations to track and manage their social, economic and environmental value added or destroyed. In order to understand better let me break it down for you.
The people quotient tracks the positive and negative impact an organization has on its most important stakeholders, i.e employees, customers, communities and anyone being affected by the organization.
This entails reducing the organization’s carbon footprint, usage of toxic chemicals, natural resources, removal of waste and restoration of any harm done.
The major aim of this is wealth creation and employment generation for the community. Innovating is one big factor too! Basically the positive and negative impact an organization has on its economy (National, International and Local).
Now taking this sustainable framework model luxury brands have resorted to alternative solutions, those which will indeed make this world a better place.
The Emergence of MYLO
One major shift that is brewing in the world of luxury is the usage of a novel material called “Mylo”. Companies like Stella McCartney, Lululemon and Gucci have shown keen interest in this material which is grown from Mycelium.
Mylo is an alternative to the traditional leather which is being manufactured by a US based biotechnology company called Bolt Threads. The long term plan is to create a supply chain for the vegan leather in order to make it commercially viable.
In fact according to Bolt threads Mylo can easily replicate the touch, feel and look of real leather across a range of colours textures and be used in making shoes, handbags etc.
The core of Mylo is mycelium which is the thread like structures that mushrooms and other fungi use in order to grow.
Stella McCartney in order to prove the viability of this vegan leather created a special edition of her iconic Falabella bag.
A great discovery indeed
This is a great discovery by Bolt threads and more and more companies must adapt in order to survive and reduce its carbon foot print. Consumers, day by day are becoming more conscious about the impact that leave behind on the environment hence organization must truly empathize and change the narrative entirely. Materials like Mylo could definitely be game changers in the world of luxury fashion and could end up creating a very tangible world of luxury businesses that provide the ideal balance between profits and sustainability.
Because in the end sustainability is not about doing less harm rather it’s about doing more good!