François Hollande, France’s new Socialist president, and partner Valérie Trierweiler will succeed Nicolas Sarkozy and Carla Bruni-Sarkozy in the Elysee Palace.
Pundits have already taken to calling Trierweiler, an editor, the ‘anti-Bruni’, and Hollande appears set to make a sweeping departure from his predecessor’s bling-embracing lifestyle.
Among Hollande’s more contentious campaign suggestions were a 75% tax rate on salaries above €1 million and special taxes on luxury goods. Executives at LVMH and other top French luxury groups are understood to have discussed moving their bases of operations to London should the proposal enter into law. So Hollande could single-handedly ensure that some of Paris’s chicest fashion bosses book one-way Eurostar tickets in droves.
Regardless, fashion designers are already lauding the French people’s choice.
‘I can’t hide my relief and happiness,’ Christian Lacroix told WWD, recalling that during Socialist François Mitterand’s terms, couturiers were invited to meet with the president. ‘No government helped fashion so much than the Socialists at that time.’
Noted political commentator Karl Lagerfeld also weighed in. ‘I like [Hollande’s] girlfriend,’ he said. ‘I think she’s very handsome, very elegant.’
Just think of the possibilities: Louis Vuitton showing in Alexandra Palace, Givenchy in a Shoreditch warehouse, Celine in the Orangery... Higher taxes have rarely been so attractive.