Fashion good for the economy

LVMH, luxury houses and other fashion business are good for the European economy and cultural sector. The European Commission, under the lead of Commissioner for Education and Culture Androulla Vassiliou, adopted a political action plan entitled

“Cultural and Creative Sectors for creative growth in the EU.”

This policy strategy welcomes cultural and creative business models, such as the luxury industry, as strategic sectors for European growth and employment.

Commissioner Vassiliou said: “The European Commission recognises the strategic importance of the high-end industries, which rely on a strong cultural and creative input, and significantly contribute to the creation of growth and jobs in Europe. LVMH is a good example of what creative passion can achieve for international reach, sustainable investment and transmission of know how.”

LVMH recognises the importance of the high-end sector for the European economy and hopes that this strategy will be the first step towards shaping the right policy environment for companies that create jobs and growth in Europe.

Such an integrated political approach would allow it to fully develop its potential for employment and growth, in particular through market access to third countries and the welcoming of tourists in Europe.

Image: LVMH, economy, retail