Cibeles Madrid Fashion Week Fall-Winter 2011-2012: Francis Montesinos
Spain Launches Luxury Industry Association
Europe’s luxury industry associations have welcomed a new member with the official launch of the Circulo Espanol del Lujo Fortuny, an organization promoting the luxury sector in Spain.
Carlos Falcó, the Marques de Griñon, who is executive president of the Circulo Fortuny, told a press conference at the Casino de Madrid that the luxury sector was a key driver of growth at a time when the general Spanish economy is struggling.
“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,” he said.
European brands account for about 80 percent of the worldwide luxury market, with 17 of the world’s top 25 luxury firms hailing from the European Union, the ECCIA noted. The sector employed some 800,000 people in 2010 and generated sales of more than 137 billion euros, or $181.78 billion, it added.
European Commission vice president Antonio Tajani said the luxury sector owed its sustainable growth to creativity and innovation.
“Luxury exports have continued to grow throughout the financial crisis and the sector is an example of European cultural excellence at its best. The creation of the Spanish Circulo is good news,” he stated.
Leslie , designer behind Ben, takes part of the worldwide luxury market when buying fabrics and clothing for her brand. She states that having Spain as another luxury sector not only opens more ideas and choices, but allows a different variety of luxury for women. Leslie and I agree with Mr. Tajani in the fact that to gain sustainable growth you need creativity and innovation to be resilient.
Diderich, J. (2011, June 9). Fashion Markets News - WWD.com. Fashion, Beauty and Retail News - WWD.com. Retrieved June 12, 2011, from http://www.wwd.com
Week: one Week: One
Company Name: Ben
Internship position: Product Development Intern
