The President of the French Federation of Women’s Ready-to-Wear, Pierre-François Le Louët, has shared his observations on the future of the fashion industry in light of the ongoing crisis. In an interview at the Salon du Luxe Paris, Le Louët discusses the challenges faced by young brands and independent houses, emphasizing the importance of cash flow during this period. He highlights the initiatives put in place by the French government, such as state-guaranteed loans and deferred social charges, which aim to support SMEs and emerging brands in the sector. Le Louët also emphasizes the agility of young brands and their ability to adjust capacity quickly, which will aid them in navigating the crisis.
Regarding the digital transformation of the industry, Le Louët acknowledges the impact of the COVID-19 crisis on accelerating the shift towards e-commerce. Brands heavily dependent on physical retail have suffered, while digital brands have been able to adapt and reach new customers. In response to this shift, the French Federation of Women’s Ready-to-Wear has implemented a digital amplification plan, offering subsidies to support brands in improving their digital wholesale and retail capabilities. The federation is also working with partners to provide preferential rates and support to its members.
Le Louët also reflects on the call made by Giorgio Armani for a slowdown in fashion and greater solidarity among industry players. He believes that the crisis has provided an opportunity for stakeholders to reflect on the pace and nature of the fashion system. While there has not yet been a collective response to these commitments in France, there has been a collective effort in the production of protective masks, with luxury houses, independent brands, and manufacturers working together. Le Louët is optimistic about the potential for fashion to become more virtuous in the future and emphasizes the importance of reflecting on the meaning of fashion.
To access the full interview with Pierre-François Le Louët, visit the platform of the 2020 edition of Salon du Luxe Paris.
Useful links:
– [French Federation of Women’s Ready-to-Wear](https://www.federation-francaise-pret-a-porter.com/)
– [Salon du Luxe Paris](https://luxurylnkd.in/fbfYtGt)
