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UK and EU establish trade agreement, future of textiles not yet certain

The UK and the European Union have confirmed a new agreement intended to “make it easier for food and drink to be imported and exported”. How the textile industry will be impacted is not yet known, however. According to a press release from the UK government, the deal, which comes after “extensive negotiations” over the last six months,...

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‘Brexit effect’: New study by Walpole reveals impact of Brexit on UK luxury

A new study by Walpole has stated that luxury exports from the EU to the UK were on average 43 percent lower than they may have been without Brexit. According to the platform’s ‘Trading with Europe’ report, the fashion and accessories sector has been the hardest hit by Brexit-impacted trading, reporting a decline of 64 percent on exports to the...

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Report: British retail exports to EU fell six billion pounds post-Brexit

New research has shown that international sales to the EU by British brands and retailers have fallen by 5.9 billion pounds since the introduction of Brexit, with uneven impact seen across categories. Among non-food exports, Clothing & Footwear has been one of the most impacted categories, with exports declining from 7.4 billion pounds in 2019...

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UK sees 750 million pound loss due to tourist tax impact on Chinese tourists

The absence of spending by Chinese shoppers due to the tourist tax is taking a toll on the UK, costing the nation an estimated 750 million pounds annually. A recent report from the Association of International Retail (AIR) has corroborated what many businesses have been emphasizing for months: high-spending Chinese tourists are now choosing to...

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Report details Brexit impact on UK fashion and textile industry, makes key recommendations

A new report has detailed the impact Brexit has had on the UK’s fashion and textile industry, and outlined five recommendations to support future growth. The report was jointly published by the Business of Fashion, Textiles and Technology (BFTT) led by the University of the Arts London, and the Future Fashion Factory (FFF) led by the University...

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UK and EU agree new Brexit deal for Northern Ireland

The UK and EU have come to a renewed Brexit agreement concerning the Northern Ireland Protocol. Called the Windsor Framework, the aim is to avoid a hard border between Northern Ireland (which is part of the UK) and the Republic of Ireland (which is an EU member state) by keeping Northern Ireland aligned with some EU rules and regulations. The...

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Retail

Covid scars had deeper impact on UK retail than expected

The negative impact of the Covid-19 on the retail industry may have been underestimated, according to new official data. Findings from the UK’s Office for National Statistics (ONS) released on Monday indicate a shrunken economy and ongoing suffering in post-pandemic daily life for many individuals. The ONS said the revised estimates of GDP still...

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Business in uncertain times: How Zalando is dealing with Brexit, inflation and shifted consumer sentiment

Online retailer Zalando is one of the leading destinations for fashion and lifestyle in Europe. The Berlin-based company serves 25 European markets with an overall consumer base of around 49 million. With its Platform Strategy at its centre, namely the marketplace model and connected retail, Zalando aims to achieve international growth by...

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Euratex report: “Brexit has been a lose-lose deal for the textile industry”

The European Apparel and Textile Confederation Euratex has looked at the latest trade data from January to September 2021 and found a “dramatic drop” of imports and exports of textile goods between the EU and UK, with exports falling by 44 percent to almost 2 billion euros and exports by 22 percent, corresponding to 1.6 billion euros. This means...

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UK signs 'landmark' free trade agreement with Australia

The UK has signed a trade agreement with Australia setting new global standards in customs and services and creating new work and travel opportunities for both nations. Agreed upon by UK prime minister Boris Johnson and Australian prime minister Scott Morrison in June, negotiators have now finalised the agreement with the final deal signed in a...

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Marks & Spencer to close 11 French stores amid Brexit border disruption

Marks & Spencer is to close all 11 of its franchise stores with partner SFH in France in the coming months amid disruption caused by new Brexit border checks. The retailer said the decision comes as “lengthy and complex export processes” are “significantly constraining the supply of fresh and chilled product from the UK into Europe and...

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Yolke switches to a direct-to-consumer model

British clothing and sleepwear label Yolke are stepping away from wholesale and switching to a direct-to-consumer model via its own e-commerce from September, as a result of Brexit challenges and to become more sustainable. Yolke said that the decision was made in reaction to the additional duties and taxes brought on by Brexit, which has meant...