As part of the strategy, the EU notes that "Given their economic significance, it is important to ensure that adequate policies are in place at EU level that take into account these business models and help the companies to continue to grow and create jobs."
In particular, the luxury industry has proven resilient to the crisis: A recent study shows that the industry corresponds to 3 % of EU (non-financial) GDP with an annual turnover of above € 400 billion. Some 990 000 people are directly employed in this sector in Europe.
By merging traditional craftsmanship and quality manufacturing with high-end technologies, design and innovation, the European high-end industry promotes European values, culture, art, creativity and know-how in the world – leveraging European soft power.
European Commission Vice-President Tajani, in charge of Industry said "In recent years, along with my services, I have closely studied the business model and performance of different creative industries including the high-end industry.
Indeed, the world high-end market is dominated by European entrepreneurs, such as Bernard Arnault-led LVMH, that have continued to drive growth and create jobs in Europe".
Fashion | On 28th Jul 2016
Montreal-based family apparel marketer Gildan Activewear Inc....
Information Technology | On 28th Jul 2016
E-commerce has the potential to add 12 million of the 80 million new...
‘Portugal is taking away a major share of the mill made sector.’
Everflow Petrofils Ltd
‘An innovative technology which India needs desperately is the...
‘Indian footwear market is nascent and largely a trend follower’
About one in every 20 patients picks up an infection while hospitalised....
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
Schlegel und Partner
Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Hyderabad-based designer Prathyusha Garimella is known for blending...