Brexit Spells Doom for British Fashion
It’s been over a year and six months since the Brexit vote, and the UK’s impending breakaway from the European Union is still causing uproar. Fashion companies based around the UK, in particular, are concerned about the deals’ impact on their ability to hire and travel internationally, as well as import high-quality textiles from around the globe. According to a report from the Creative Industries Federation, 74% of creative businesses—many of whom are run by or provide employment to women-- fear that Brexit will significantly harm business prospects. Adam Mansell, the executive of the UK Fashion and Textile Association, warns that, although it seems unlikely, “it is vital that we get a trade deal with zero tariffs and very simple border controls.”
For further reading:
The UK is not the only country where fashion businesses are under threat: Due to U.S. President Donald Trump’s next round of tariffs, consumer fashion products are likely to feel a serious strain.
How do you feel about Brexit’s impact on the fashion industry? Do you think its potential impact should be a factor in negotiations?
Small brands are always the first to experience strain from issues like Brexit. When you need something this week, skip Target and use your dollars, euros, pounds, etc. to support a smaller brand.