What Vetements' Move to Zürich Means for the Fashion House

The Paris headquarters and design office go to Switzerland’s largest city.

By
Fashion
8,762 Hypes 0 Comments

Vetements is moving its headquarters and design operations from Paris to Switzerland. The transfer is partly economically and culturally driven according to Business of Fashion and Swiss newspaper Tages Anzeiger. In fact, brothers Demna and Guram Gvasalia consider the change a “clean slate.”

Taxes:
From an economic standpoint, the move makes sense. BoF explains that the country is considered a “haven for multinational companies, including fashion businesses, because of its favorable tax regime where corporations with foreign operations get preferential treatment.” Ronen Palan, Professor of International Political Economy at the City University London also further explains: “In most countries, you end up paying on income, but in Switzerland, some cantons get deals with foreign residents and they pay sometimes on [how much they spend per year],” as told to BoF. Guram Gvasalia also stated to TA that, “Taxes are obviously another reason for the move but not the most important one.”

Culture:

Guram Gvasalia, the company’s chief executive told TA that, “Paris kills creativity. Its environment with the ‘bling bling’ is destructive. I’m done with the whole showing-off in fashion and the superficial glamour.” Furthermore, Zürich also has a booming creative community in terms of architecture, design, and fashion.

Ease of moving employees:

Vetements finds its employees from different parts of the globe. Some have already started to relocate to Zürich. Switzerland has a pretty favorable policy when it comes to immigrants. “It takes 9 months to transfer a new employee to France,” Guram Gvasalia stated to TA. “In Paris, we couldn’t grow any further,” he continues.

Read Full Article
Photographer
Vogue

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

857 Users Online

What to Read Next

FMACM 2017 Spring/Summer "Formalism" Lookbook Highlights Form and Function
Fashion

FMACM 2017 Spring/Summer "Formalism" Lookbook Highlights Form and Function

With a versatile range of garbs.

#hypebeastkids: The Perfect Air Jordan 1s for Newborn Sneakerheads
Footwear

#hypebeastkids: The Perfect Air Jordan 1s for Newborn Sneakerheads

Boy or girl?

Take a Look Inside the Titolo x adidas NMD XR1 Trail "Celestial" Pop-Up in Zurich
Footwear

Take a Look Inside the Titolo x adidas NMD XR1 Trail "Celestial" Pop-Up in Zurich

Completely iced out.


Chance the Rapper Says Apple Paid Him $500,000 USD for 'Coloring Book'
Music

Chance the Rapper Says Apple Paid Him $500,000 USD for 'Coloring Book'

He’s just trying to bring transparency to the game.

Montblanc Debuts Its Customizable Summit Smart Watch
Fashion 

Montblanc Debuts Its Customizable Summit Smart Watch

Presented by Montblanc
With interchangeable digital faces and bands inspired by its signature 1858 timepieces.

Trophy Room and BAPE Tease Upcoming Collaboration
Fashion

Trophy Room and BAPE Tease Upcoming Collaboration

The Heir and the Ape join forces.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.