France Backs Fashion Bank for Crisis-hit Designers
January 26, 2010 | Levent OZLER
France said it would help struggling designers and artisans by creating a fashion bank and handing out state guarantees for loans, Industry Minister Christian Estrosi said Monday.
The fashion industry, which the government sees as part of France's cultural heritage, has been hit hard by the global spending slump with high-profile victims including Christian Lacroix and Cacharel.
"I want Paris to remain the world's capital of fashion," Estrosi told journalists.
"Today, we need people to share the risks."
more: in.reuters.com/article/lifestyleMolt/idINTRE60O4U9 (23)
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