European Commission to promote luxury goods
European luxury sector – “a key driver of sustainable growth”
The European Cultural and Creative Industries Alliance (ECCIA) has welcomed a proposal by the European Commission to support the European luxury fashion industry. The European Cultural and Creative Industries Alliance is composed of the five major European luxury goods and creative industries organizations, Circulo Fortuny (Spain), Comité Colbert (France), Fondazione Altagamma (Italy), Walpole British Luxury (UK) and Meisterkreis – Deutsches Forum für Luxus (Germany).
Representatives from the biggest Europe’s luxury houses (Chanel, Dior, Harrods, Loewe, Emilio Pucci and others) attended a high profile round table discussion with European Commission’s vice president Antonio Tajani. The round table was focused on further collaboration to promote luxury goods and increase jobs in the sector, in the UK, France, Spain, Germany and Italy.
European Commission made three proposals:
1. ECCIA to become a high level advisory board on competitiveness for luxury brands.
2. The creation of a European data observatory for the luxury market;
3. Development of a second study, following the current report on fashion and the importance of the luxury sector to Europe and its links to tourism.
The European luxury sector was described by the European Commission as “a key driver of sustainable growth”. It is said to be signficant in its contribution to Europe’s economic health, competitiveness, creativity, innovation, employment and export.
European brands account for about 75% of the worldwide luxury market and among the top 25 worldwide luxury companies, 17 are from the European Union.
The European Commission said that the personal luxury goods market remains integral to growth for Europe, accounting for more than €170 billion (£146 billion) of the worldwide luxury goods consumption, employing, in 2010, between 800,000 and a million people.
The commission also offers that the luxury industry’s “sustainable business model and drive for innovation and excellence” has proven its resilience in the financial crisis.
More: altagamma.it
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The European Cultural and Creative Industries Alliance is composed of the five major European
luxury goods and creative industries organizations, Circulo Fortuny (Spain), Comité Colbert (France), Fondazione Altagamma (Italy),
Walpole British Luxury (UK) and Meisterkreis – Deutsches Forum für Luxus (Germany).
