Home / Knowledge / News / Apparel/Garments / New EU industrial policy strategy supports high-end market
New EU industrial policy strategy supports high-end market
12
Oct '12
In the new EU Industrial Policy strategy, the European Union announces its intention to focus on creative industries, such as the European fashion and high-end industry.

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".

LVMH

Must ReadView All

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search