The French government is keeping a close eye on the country’s fashion and luxury brands that are a “national pride,”, Finance Minister Bruno Le Maire told Miss Tweed. Among firms of concern, he said crystal maker Baccarat was subject to “special monitoring” to help it secure its future after Hong Kong debt companies took a majority share in December.
Le Maire’s warning reflects French political and business concern that precious know-how and jobs in fashion and luxury could be lost because of mismanagement or exported abroad.
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