Before the EU referendum took place, a poll of nearly 500 designers revealed that 90 percent planned to vote to remain. This is unsurprising due to many initiatives of the British Fashion Council (BFC) and the fact that young designers in the UK work with factories and suppliers from overseas.
Now that they face Brexit, the UK fashion industry is urged to look at the positives. Due to the weakness of the currency on the international markets, London has become a goldmine for bargains for shoppers paying in dollars, euros and yuans, alongside this, it has been reported that online retailers are booming.
Harrods is one of London’s key destinations for visitors, and so far the company has said things are looking up.
“Harrods is world-renowned for offering an unrivalled range of luxury merchandise and, during the summer months, we always expect to welcome a higher volume of international customers,” managing director Michael Ward told GQ.
“Therefore, for Harrods, it was business, as usual, we are pleased to report strong trading so far.”
Analysts are also predicting strong trading for e-tailers, including a rise for Asos seeing as two-thirds of its customers (and sales) are overseas.