Fly

Type
Reshoring
Country
France
Reshoring from
China
Reshored business function
Production
Region
Location of affected unit(s)
Sector
Manufacturing
(31) Manufacture of furniture
31 - Manufacture of furniture
31 - Manufacture of furniture
No information on job gains number available
Announcement Date
11 July 2016
Employment effect (start)
1 January 2014
Foreseen end date
1 December 2016

Description

Fly is a French company that creates furniture for the European market. The company suffered a huge crisis in 2014. More than 1000 employees lost their job in that occasion. In order to come back to a rentable position, the company decided to backshore all production to Europe. According to the CFO Nicolas Fink, the lower value of the Euro has helped reducing the gap in the production costs. The declared aim for the backshoring is to give more power to European designers in order to differenciate products with respect to competitors (expecially Ikea). The company had to reduce profit margins in order to gain market shares.

Sources

Citation

Eurofound (2016), Fly, Reshoring in France, factsheet number 170, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/170.