How Will The Fashion Industry Be Affected By The UK'S Decision?

2017 spring and summer

Zhou, at the end of the Sibling conference, the designer wore the support of Europe.

Curtain call

It was already five in the morning in England, and Wang Fengchen, who was in London, was not asleep.

The outcome of the referendum in Britain has been decided, and the economic and trade policy changes brought about will decide whether Wang Fengchen will continue to stay in London to run the brand.

Wang Fengchen founded personal menswear in London.

FENG CHEN WANG, priced in pound sterling.

The British referendum resulted in a sharp drop in the pound in June 23rd and a nine year low against the RMB exchange rate, a thirty year low.

Not only Wang Ying Chen, for more fashion designers in the UK, the trend of future sterling exchange rate, the reformulation of trade rules, and the prospect of investment in the UK will affect whether the brand can continue to grow.

Designers generally believe that Britain stays in the EU to better solve production, sales and export work, while overseas markets are very important for fashion designers. Therefore, no wonder 90% of the 290 designers interviewed were supported by British Fashion Council.

In the just concluded London 2017 spring and summer men's week, leaving Europe or staying in Europe has become another important topic besides the design style.

The worries of young designers are not unreasonable.

As more and more brands of men's wear conference and women's wear conference merge, London Fashion Week's show size is becoming more and more tight.

In addition, Tom Ford and other designer designers no longer publish new designs in London. In the case of slowing global economic growth, London designers are also faced with the decline of media attention.

After Britain's departure from Europe, more designers may leave London for Paris or Milan.

The position of large fashion groups is equally clear.

Before the referendum, Burberry Group Chairman Sir John Peace and chief executive Christopher Bailey sent an internal email to employees to remind employees of the blow to the Burberry group.

In February, John Peace and Christopher Bailey signed their names in an open letter to the newspaper's "anti Europe" letter to express concern about the negative impact of Europe on investment, employment and the economy.

At the same time, Martha Rose, chairman of Stuart department store, was also signed.

But it's honey, my arsenic.

High fashion brands in Italy and France feel that Britain is an opportunity for them to take off Europe, although the share of British luxury goods market in the world is only about 7%, according to the Italy luxury industry association.

The only thing to be thankful is that the referendum is only the first step on the road to Britain's departure from Europe. Then the British Parliament will pass the new law, and Britain needs to reach a gradual separation agreement with the European Union, which will take at least a few years.

Before that, Britain still has to shoulder the obligations under the EU convention.

So designers, you still have time to wait and see.