Shining a Light on the World of Watches

An E.U. regulation is expected to end the industry’s longstanding culture of secrecy.

In 2012, when Jean-Noël Kapferer and Vincent Bastien published the second edition of “The Luxury Strategy,” their much-admired, rule-breaking guide to building luxury brands, they devoted the closing chapter to sustainability.

“Luxury acts but does not talk,” they wrote. “Its business is that of creativity not of boasting about the efforts it makes in sustainable development. Luxury is like a theater: backstage work is secret.”

That, of course, was 10 years ago.

Today, luxury companies are grappling with growing pressure from activists, investors and consumers to disclose their sustainability efforts, including the sources of their raw materials and how their

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