SOURCE: Luxury Institute

October 12, 2007 11:00 ET

Luxury Institute WealthSurvey: High Net-Worth Consumers Name Lexus the Brand With the Best Business Ethics

NEW YORK, NY--(Marketwire - October 12, 2007) - High net-worth consumers named Lexus the brand with the best business ethics in the 2007 Social Responsibility WealthSurvey from the independent New York-based Luxury Institute (www.luxuryinstitute.com). Also cited for their high business ethics were Mercedes-Benz and Tiffany, in second and third place, respectively.

The most important activities with regard to Business Ethics that wealthy consumers say companies should participate in are: providing fair wages and benefits to employees, stating and demonstrating their business ethics, and having proper corporate governance policies.

"Our research shows that if wealthy consumers know that a luxury brand is socially responsible they will give that brand greater purchase consideration over a brand with similar quality and service," said Milton Pedraza, CEO of the Luxury Institute. "Brand reputation management is of increasing importance in a world where consumers generate and control much of the media. Just like individuals, brands with irreproachable business ethics benefit from this reputation-enhancing quality. The world today is too transparent to be less than completely ethical. At the Luxury Institute we provide 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.

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