The French leather chain exports goods worth 11,7 billion euro in 2018 (+10%). Foreign purchases, on the other hand, lose 8% (10.7 billion): for the first time, the French balance of trade for the segment is positive. What changed? Internal demand was down at the same time that consumers turned to less expensive goods, while the average price (considering a volume decrease) of goods sold abroad increased: respectively, shoes gained 8%, leather goods gained 15% and gloves gained 7%. The data was provided by the Conseil National du Cuir’s economic department, and in the same note the entity highlights the exploit of handbags (7.3 billion euro, +12%) the peak reached by the footwear segment (3.5 billion euro) and the double-digit growth of leather clothing (200 million euro, +10%). The speedy growth of foreign revenue is tied to the high-end good: “French luxury don’t stop gaining shares in foreign markets, most of all in China – comments Frank Boehly in a note -. The conservation of our savoir faire (know-how) remains a risk for the chain, and we can do nothing but appreciate the courage and efforts of our craftsmen, all proud of their made-in-France production”.
France is changing: leather goods’ exports boom in 2018 (+10%) and, for the first time, the balance of trade is in the green
