Enterprises are under surveillance for their product’s environmental footprints, quality dimensions and production system environment. In addition, there is a growing concern of liability for entire product life cycle where firm is responsible for consequences caused by product till its useful life. Enterprises are urged to adopt a Triple Bottom Line approach of sustainability to respond effectively to the dynamics of Profit, People and Planet. We use LISREL based Structural Equation modeling to identify the mediating role of product life cycle in the relationship of sustainable practices and firm performance. Based on the findings, Exploratory Factor Analysis is performed to identify cluster of sustainable practices for each product life cycle.  The recommended framework can be used by practitioners as a decision support tool in exercising sustainable practices in each product life cycle stage.