Transitioning Business for a Circular Economy
This case study explores the strategic business opportunities, for Lane Crawford, an iconic luxury department store, to transition in a circular economy towards sustainability. A new experimentation framework was developed and conducted among cross departmental employees, during a Design Lab, with intention to co-create novel Circular Economy business concepts towards a new vision: the later was a reframe of the old system based on the principles of sustainability; to move beyond a linear operational model towards a circular economy that can contribute to a regenerative society. This work draws on both academic and professional experience and was conducted through professional practice. It was found that innovative co-created concepts, output from the Design Lab, can create radical change in a circular economy that is holistically beneficial and financially viable; looking forward to extract greater value a)Internal organization requires remodeling to transform towards a circular economy; b)Requirement for more horizonal teams across departments vs solely vertical; c)New language and relationships are required to be able to transition towards a circular economy; d)Some form of physical and virtual space requirements, for cross-disciplinary teams to come together to co-create; e)Ability to iterate, learn and evolve requires agency across the business
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