Extraordinary economic force of handbags
03/06/2013
He told the newspaper that French luxury brands had earned EUR 34 billion for the country’s economy that year compared to the EUR 17 billion that came in from the French aerospace industry.
“In other words,” he said, “handbags, perfumes and spirits carry twice the weight of aeroplanes in terms of commercial balance. That demonstrates an extraordinary force for the French economy.”
European brands account for 70% of the global luxury goods market, the Financial Times said.
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