Is Paris Losing its Title as the “Fashion Capital”?
The fashion sector in France has faced a wave of closures in recent years, impacting retail sales in the fashion capital, Paris, raising questions about its ability to retain this title.
Fashion United, a fashion-focused website, noted that “the crisis of purchasing power, inflation, profitability issues, and competition from online sales were among the main reasons leading to the decline of the fashion industry in Paris, resulting in an increase in store closures.”
The site also pointed out that the future of fashion is “growing increasingly bleak,” in its own words.
In early January of this year, the commercial court in the French city of Lille placed the brand “Chauss’Expo” under liquidation.
The court announced the closure of 176 stores employing 700 people in the country, while “E.K.K.S” announced the need for downsizing.
The crisis was further compounded by unsuccessful winter sales, conducted from January 10th to February 6th of this year, putting stores in a precarious position.
On its part, the French newspaper “La Dépêche” stated that “the main explanation for this crisis lies in the purchasing power of consumers.”
It explained that faced with rising prices from all sides, the French people made their choices, and the fashion budget bore the brunt.
Traders also attribute this decline in sales to snowfall and road closures in January.
