Luxury Brand's Social Impact: Mastering the Balance
In the realm of luxury fashion, Coach is making a significant impact with its Dream It Real initiative. This programme, designed to nurture undergraduate leaders passionate about sustainability, is providing scholarships, mentorship, and community support to young people from under-resourced backgrounds.
The inspiration for Coach's Dream It Real collection comes from Oak Bluffs, a town on Martha's Vineyard, which holds great significance for Black Americans. The collection was crafted by those who deeply understood the cultural weight it carried, reflecting Coach's commitment to authenticity and lived experience.
The Dream It Real initiative aligns perfectly with Coach's commitment to a circular and sustainable business model. This approach prioritises environmental responsibility, redefining the luxury fashion industry's approach to social impact. By integrating young leaders through scholarships tied directly to this ethos, Coach fosters authentic innovation rooted in sustainability, making the industry more responsible and transparent.
One such beneficiary of the Dream It Real programme is Puspita Esha, a Dream It Real Scholar. Esha received grant money and mentorship from the programme, which helped her afford tuition and connect with job opportunities. Her mentor, a seasoned professional with experience in both accounting and entertainment, provided invaluable guidance in her potential career paths.
Esha's relationship with her mentor has been a highlight of the programme for her. They meet regularly and keep each other updated on their careers. Esha hopes that other companies follow Coach's example in providing one-on-one connections and long-term commitments to students.
The Coach Foundation's strategy is based on research that revealed a drastic drop-off in education after high school for young people from low-income and under-resourced backgrounds. The Dream It Real programme is data-driven and informed by independent research and measurable outcomes, ensuring its effectiveness in addressing this issue.
The Coach Foundation operates with an endowed foundation, meaning the commitment isn't tied to annual sales or market trends. This ensures the programme's sustainability and allows it to focus on its mission of empowering young people.
The Coach Foundation has an ambitious goal of awarding 10,000 scholarships by 2030. A recent $20M investment will help advance opportunities for under-resourced young people, furthering Coach's commitment to social impact.
Julia Furnari, Executive Director of the Coach Foundation, started her career with a goal to reach a position where she could lead a corporate foundation. Now, she heads the Coach Foundation, leading its efforts to make a positive impact on young people's lives. Furnari emphasises that the foundation's work is done because it's the right thing to do, not to gain customers.
In conclusion, the Coach Foundation's Dream It Real initiative is making a significant impact by providing scholarships, mentorship, and community support to under-resourced young people. By combining investment in youth education and leadership with a pioneering sustainability model, Coach is leading the way in luxury fashion's shift towards circularity and social impact.
[1] Coach Foundation's Dream It Real Initiative [3] Coach's Commitment to Sustainability
- Puspita Esha, a beneficiary of Coach's Dream It Real scholarship, is on a personal growth journey in the realms of fashion-and-beauty and education-and-self-development, as she pursues her dreams with the guidance of her mentor from American Eagle Outfitters, who also works in Ralph Lauren's luxury brand.
- Julia Furnari, the Executive Director of the Coach Foundation, embraces leadership principles as she leads the foundation's efforts in lifestyle changes towards a sustainable and circular luxury fashion brand, aiming to award 10,000 scholarships by 2030.
- The Dream It Real initiative by the Coach Foundation is a pioneering example of learning from the past, as it draws inspiration from Oak Bluffs' cultural weight, while looking towards the future by nurturing undergraduate leaders and promoting sustainable practices in the luxury fashion industry.
