Luxury spending: Designer labels and French government try to revive Paris, London enjoys Brexit

Comité Colbert, the association that brings together the French luxury brands, has organised a trip to Paris for 100 major buyers United States, Japan, China, Nigeria and other countries in the first week of December. Chanel has prepared the submission of pre- collections for next autumn in the French capital. These are two of the initiatives set up thanks to the support of the Elysèe, which, as we read on Bloomberg, has put into the pot 43 million Euros to invest in the City of Light. The city of love suffered a major blow to its brand: the terrorist attacks of 2015, which are summed recent robberies worth millions against Kim Kardashian and two women of Qatar, have put luxury customers fleeing. Now with the trend of the Christmas season also plays a slice of 2017, the high-end fashion house and authorities tries to put remedy by calling up the big spenders. The fate of the capital may differ from those of the entire system: according to Bain & Co. engine of France, which is the fourth largest market for luxury goods (totalling € 10 billion), is represented by the tourists, they are worth 60-65% of turnover. According to Global Blue, the first 10 months of the year, tax-free purchases in the country decreased by 20%, while the statistical institute INSEE in incoming registers a decline of 12.7% in the summer season (May to September). For a shopping capital that comes to Christmas in difficulty, there is another one that instead still enjoys the benefits of Brexit currency. Retailers consider it to be able to take advantage of the still weak pound: New West End Co. estimates that in the six weeks of approach to holidays sales will rise by 1.6% from last year. Interviewed by Footwear News, Selfridges store Londoners recognised that “entering a critical season for trade in a very advantageous position”, while the British LVMH comment “growth was possible thanks to tourists“.


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