Even though luxury and sustainability are usually mistakenly considered two opposite concepts, because of the oxymoronic association between the psychological needs that drive luxury consumption (namely, ostentation and status) and the core values of sustainable choices (i.e., self-denial, frugality, and parsimony), the key characteristics of luxury products, such as high quality, durability, limited production, and preservation of craftsman’s traditions, make them inherently sustainable. This chapter provides a comprehensive overview of the state of the art of research about sustainability within the luxury industry, aiming at critically analyzing extant knowledge and identifying key challenges, emerging themes and future research directions.