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Spotlight | France
As French lawmakers wage war on drugs, luxury sector set to suffer casualties

By Philippe Vasset

Published on 27.03.2025 at 06:00 GMT Reading time 2 min

The limit on cash payments by non-French residents will be slashed from €15,000 to €1,000. © Studio Pachamama

The National Assembly is debating a bill aimed at curtailing the narcotics trade and the laundering of drug money that could have major repercussions on the luxury industry. After garnering bilateral support in the legislature, the bill has been quietly amended to slash the cap on the amount of cash foreign nationals can spend on French soil. Luxury brands, already under pressure, would feel an immediate impact on their retail operations.

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Spotlight | France
As French lawmakers wage war on drugs, luxury sector set to suffer casualties

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Related topics to this article

Read also

Court case reveals bundles of banknotes and fake bags in Christofle back room

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Front Row
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Luxury sector dodges cash payment caps at the eleventh hour

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Far right takes pride of place in French National Assembly's working group on luxury goods

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Spotlight | France As French lawmakers wage war on drugs, luxury sector set to suffer casualties

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Related topics to this article

Read also

Court case reveals bundles of banknotes and fake bags in Christofle back room

French Senate drafts law to counter money laundering in luxury sector

Front Row Bernadette Pinet-Cuoq, the champion of mined over lab-grown diamonds

Luxury sector dodges cash payment caps at the eleventh hour

Marine Le Pen's Gérard Darel handbag is causing a problem for the brand

Far right takes pride of place in French National Assembly's working group on luxury goods

At Kering, the fight against money laundering falls to sales staff

In Focus Luxury firms' backstage manoeuvring in French state auctions of seized goods

The other Libyan affair worrying Paris's Golden Triangle

Cosmetics lobby urges French MPs to revive luxury sector working group

French court makes Printemps pay hefty VAT bill for Chinese customer ‘guide'

Front Row Émile Meunier, the Green scourge of LVMH

Laundering fears prompt leather goods companies to blacklist customers

Spotlight Money laundering: French finance ministry puts luxury sector under surveillance

About Glitz

Subscription

Glitz on social media

Indigo Publications' websites

Spotlight | France
As French lawmakers wage war on drugs, luxury sector set to suffer casualties

Front Row
Bernadette Pinet-Cuoq, the champion of mined over lab-grown diamonds

In Focus
Luxury firms' backstage manoeuvring in French state auctions of seized goods

Front Row
Émile Meunier, the Green scourge of LVMH

Spotlight
Money laundering: French finance ministry puts luxury sector under surveillance