Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
In 2013, as little as 20% of production for the luxury French jewelry producer Mauboussin was carried out in European countries. The majority was outsourced to producers in China, India and Thailand. However, in 2016, following several rounds of backshoring and nearshoring (to Italy), almost 85% of production for the company is done in Europe, and more than 40% in France. Moreover, the share of production in France is expected to increase to 50% by the end of the year. Alain Nemarq, the company's chairman, stated that producing company goods in Europe is approximately 10% more expensive than in Asia. However, higher costs are compensated through benefits to product quality and company image. New labs have been established in Paris, Lyon, Alsace, as well as in Italy. Although the quality of Mauboussin's products has not increased as much as expected, time lost in logistics has been greatly reduced. Moreover, the company's customers appreciate the backshoring as it supports the national economy and job creation, as well as for pride in the 'made in France' effect. Mauboussin's plan is to fully backshore by the beginning of 2017.
Eurofound (2016), Mauboussin, Reshoring in France, factsheet number 188, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/188.