In this study, we investigated sustainability reporting practices adopted by the ‘Global Power of Luxury Goods 2019’, which are the top 100 companies operating in the luxury sector listed by Deloitte. The analysis firstly focused on exploring sustainability disclosure and reporting practices, moving then to the examination of China-specific sustainability initiatives according to the Global Reporting Initiative(GRI) standards categories: Economic, environmental, and social. Adopting a theoretical perspective based on elements of institutional theory and stakeholder theory, we highlight how the development of sustainability reports by companies in the luxury sector is still a limited practice involving larger companies that have already invested in the implementation of sustainability strategies. The findings reveal how the reporting of China-specific sustainability initiatives is influenced by a set of factors such as company dimensions, company nationality, the management of the supply chain and operation in China, and the direct reference to China as a key market in terms of revenues. Finally, a cluster analysis shows how companies belonging to different relevant markets for the luxury sector demonstrate different homogeneous approaches by geographical area (isomorphism), with French and Chinese companies more engaged in reporting their sustainability initiatives in China.
This is an open access article distributed under the Creative Commons Attribution License
which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited