The success story of the French luxury industry

August 29, 2013 – 08:56

Der Kuppelsaal der Galerie Lafayette. Eins der ältesten und luxuriösesten Kaufhäuser Paris.

Markus fork

Dr. Markus fork is a journalist at La Documentation française (Direction de l'information et légale administrative,Paris) and Research assistant at the Institute CIRAC (Centre d'information et de recherche sur l'Allemagne contemporaine).

The outstanding position of France in the luxury market is based on a successful,centuries-old interaction between government,trade and society,coupled with a highly efficient in recent years,corporate strategy.Large Luxury Holdings and world-famous brands guarantee France in this segment a market share of about one third.The success is limited to the traditional luxury goods industry.

The domed hall of Galeries Lafayette.One of the oldest and most luxurious department stores in Paris.License: cc by-nc-sa/3.0 / (Jorge Royan)

Luxury is not just luxury

Given this long tradition,it is not surprising that in France such a successful luxury goods industry,which mainly includes clothing,accessories,jewelry,watches,fragrances,cosmetics and furniture,has emerged.For example,in Germany,which although also has a not insignificant luxury goods industry,other industries are primarily established,including luxury automotive brands and technology at the highest level,that have a strong market worldwide.Die größten Luxusunternehmen nach Umsatz 2011.

Is considered in both countries the people with the greatest wealth,as found,according to Forbes' 2011 ranking of the top five in France,four representatives of the luxury goods industry: Bernard Arnault (LVMH Group),Liliane Bettencourt (daughter of the founder of L'Oréal ),François Pinault (former President of Pinault-Printemps-Redoute - PPR) and the Wertheimer brothers (owners of Chanel).The only industrialist Serge Dassault (Aerospace) in fourth place.On this side of the Rhine there are not luxury goods,which have brought the richest Germans to their assets,but Discount Retail (Karl and Theo Albrecht,Aldi) and mail (Michael Otto,Otto Versand).At the same time you will also find industry (Quandt family - Johanna Quandt and Susanne Klatten Stefan Quandt,BMW,Altana,SGL Carbon) and logistics on the front seats (Klaus-Michael Kuehne,Kuehne + Nagel).The dualism is thus distorted almost to the point of caricature: the beautiful,noble,Magnificent versus the rational,useful and even cheap.Die wertvollsten Luxusmarken weltweit 2012.

Personal luxury goods industry: France stands at the front

France has with its luxury goods industry for a highly profitable sector,which is a first-rate part of the French economy and society: Luxury is a central symbol of the country for which they are willing to spend more than the average for a large majority of the French.Paris is regarded as the global center for luxury goods: the "Golden triangle" between the Rue du Faubourg Saint-Honoré,the Avenue Georges V and Avenue Montaigne,and in the Rue de la Paix and Place Vendôme,many of the large marks its headquarters.

The share of traditional luxury industry of the national product in France is almost one percent (for comparison,in Italy it is 1.1 percent,and in Germany - without automobile market - at 0.3 percent).2012,global sales of luxury goods market will exceed the first 200-billion-euro mark.The largest market share is still Europe (approximately 35 percent) just before America.The Western European markets are indeed partially saturated,however,Germany is among the countries with pent-up demand in the luxury goods consumption.While Japan with over 10 percent is still an important market here,the strongest growth rates in the BRIC countries Brazil,Russia,India and China.


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Source: www.bpb.de

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Hey, hoping someone can help. My boyfriend and I are hoping to move to NYC from Dublin, Ireland early next year, and are trying to do some research re finding jobs, apts etc. Could anyone recommend a good job search site - my background is in Retail / luxury goods marketing. Hoping you can help, Dee!

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