Paris's Cheap Fashion Show Spawned Banks To Save The Fashion Industry

When the 2010 spring Paris high fashion week became famous for its luxury show, the French industry minister Estero J couldn't sit still.

Estero J announced that fashionbank will be set up to engage in government guaranteed lending and save the struggling fashion industry in order to maintain the status of Paris as the world's fashion capital. He said he hoped to have one or two banks, specialized in lending services to Brand Company and other creative industries, and the state as a guarantor of specific loans.

Estero J said: "I hope Paris can maintain the status of the global fashion capital. Today, we need to share the risks of fashion. " His assistant, Rox, said the French government hopes to announce the details of the new banking plan by the end of March.

Estero J pointed out that the French government is also considering allowing the practitioners of the fashion industry to avoid the statutory limit of 35 hours' work per week, as they have to invest a lot of time before holding the fashion show.

He also said that the government is considering setting up a school of fashion design and creativity in order to match London's Saint Martin Institute and Royal College of Art in Antwerp, Belgium. He believes that Paris must pay more attention to other fashion city practices, such as New York, London and Berlin, to take measures to publicize and defend their fashion industry.

In order to revitalize the French fashion industry, Estero J also received an interview with Anna Wan, editor in chief of the US Edition of Vogue magazine on 26 th, and listened to her advice.

The fashion industry has always been regarded as a cultural tradition by France. It employs 125 thousand employees and is an important pillar of the global luxury industry. The French government is also actively helping the top brands of Hermes and Dior to create the "made in France" image.

Last year, the global financial crisis hit the fashion boutique industry. Germany Escada, France Christian Lacroix, Japan Yamamoto Teruji and other world famous brands applied for bankruptcy. The French brand Cacharel was also greatly affected. Bain consulting pointed out that the global luxury industry revenue fell sharply by 8% last year, and this year it should rise by 1%.