Circulo Fortuny aims to enhance handmade manufacturing

09 Jun '11

5 min read

The Casino of Madrid hosted the official launch of the Circulo Español del Lujo Fortuny, an association founded by a group of companies in the luxury sector: Loewe, Numanthia, Lladró, Carrera y Carrera, Natura Bissé, Village Olive payments, La Amarilla de Ronda (LA Organic) and Sotogrande.

Circulo Fortuny's main objectives are: to promote and protect the luxury sector as part of the Cultural and Creative industries, at both national and international level, acting as spokesperson of the Spanish brands in this sector. In addition it will enhance the image of high end Spanish brands' products and services abroad, and to represent and defend the specificity of this sector as a key driver for the Spanish economy, by promoting training and sharing experience and common knowledge among its members.

During the presentation of the association to the media, Mr. Carlos Falcó – Marques de Griñon –, Executive President of the Circulo, and Mr. Enrique Loewe, Honorary President, emphasized the social aspect of the luxury sector in Spain and the importance of its role as a key driver of economic growth in the XXI century. "The luxury sector - which values handmade manufacturing and guarantees excellence in craftsmanship - is particularly resistant to economic downfalls, and will therefore be a key element for the economic recovery," said Carlos Falcó during the event. Ms. Almudena Arpón de Mendivil, partner at Gómez Acebo & Pombo, was appointed general secretary of the Circulo.

Currently, the luxury sector's contribution to the Spanish economy is highly significant yet poorly recognized. Luxury products are characterized by - among other things - fostering tradition and craftmanship, while modernising and innovating production. Thanks to the creativity of this sector, its foundation in culture and the meticulous standards of their distribution channels, the industry employs around 800,000 people in Europe with sales volume of approximately 136 000 million euros. In Spain, despite a slower recovery compared to other countries, the sector shows strong signs of improvement thanks to purchases by tourists on the one hand, and to high levels of exports, on the other.

Therefore enabling the companies of Circulo Fortuny to benefit from the economic recovery of other countries (or the maintenance of activities in countries which were not affected by the crisis) avoiding thus restructurings that have taken place in other sectors. Barcelona and Madrid alone hold nearly two-thirds of Spanish high end consumption. It is important to highlight that the sector's products are manufactured in Europe regardless of whether they are destined for the internal market or third countries, which again allows the sector to maintain employment locally which is crucial for the Spanish economy and the economy of neighbor countries. In brief, the dynamic of the sector shows it's resistance to the economic crisis. One figure that is particularly significant is the 8% expected global growth of this sector according to the survey Bain Altagamma Worldwide Markets Monitor 2011.

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