SOURCE: Luxury Institute

October 18, 2007 11:00 ET

Luxury Institute WealthSurvey: High Net-Worth Consumers Name Lexus the Brand Admired Most for Environmental Concerns

NEW YORK, NY--(Marketwire - October 18, 2007) - High net-worth consumers named Lexus their most admired brand for environmental concerns in the 2007 Social Responsibility WealthSurvey from the independent New York-based Luxury Institute (www.luxuryinstitute.com). Also cited were outdoor equipment and clothing producer Patagonia and automaker Mercedes-Benz, in second and third place, respectively.

Four-fifths (81%) of wealthy consumers said that a company's commitment to the environment (i.e., global warming) was important, as well as companies that provide recyclable/biodegradable packaging and that exceed EPA requirements.

"Being 'green' is no longer a luxury," said Milton Pedraza, CEO of the Luxury Institute, "It is a requirement of doing business according to wealthy consumers. Luxury brands that want a share of wealthy consumers' wallets need to impress them that they are aware, committed and involved in saving the planet. Our research shows that 70% of the wealthy specifically look for environmentally friendly brands with whom to do business. In a world that is increasingly transparent, the Luxury Institute provides impartial and independent 'voice of the high net worth consumer' insights that benefit luxury consumers and the companies that seek to serve them," added Pedraza.

The proprietary WealthSurvey is the only measure of wealthy Americans on corporate social responsibility. A national sample of over 950 wealthy American consumers, with an average income of $307K, and average net worth of $3.1 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.

The Luxury Institute provides this detailed PowerPoint analysis and dozens of its own proprietary surveys exclusively to members of its Luxury Board (www.luxuryboard.com), a global community of luxury goods and service executives, professionals and entrepreneurs.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings and research institution that is the trusted and respected voice of the high net-worth consumer globally. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.luxuryboard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.luxuryinstitute.com.

Contact Information