Bruno Le Maire, Minister of Economy and Finance, and Franck Riester, Minister of Culture, will sign the Strategic Contract for the “Fashion and Luxury” sector today, Tuesday 8 January at the Design and Fashion City.
The contract will be signed this morning with Guillaume de Seynes, Chairman of the Strategy Committee and Chairman of the Colbert Committee. France is the world’s leading player in the Fashion and Luxury sector, both in terms of turnover and exports. Its turnover amounts to 154 billion euros with 617,000 direct jobs. France is one of the main exporting countries in the sector with more than 35.7 billion euros in exports and contributes significantly to France’s influence and attractiveness.
The contract that will be signed responds to the challenges facing the sector: the upheaval in the value chain resulting from the introduction of digital technology, the competition that Paris faces as the fashion capital, the recruitment difficulties of industrial companies in the sector, the maintenance on the national territory of a competitive production tool and its transformation towards the industry of the future, as well as setting place of environmental requirements.
Bruno Le Maire will also launch the new French Fashion Institute, resulting from the merger between the French Fashion Institute (IFM) and the School of the Couture Union Committee.
This group will constitute a new School called to position itself at the highest level in the world in terms of creation, management and know-how. France is the country of fashion, elegance and creation and Paris, its capital, through the new French Fashion Institute, will be the ideal place to learn.