FASHION INDUSTRY


Increasingly important priorities are


sustainability and transparency, reflecting rising concerns on the part of consumers and companies. For some forward-thinking companies, sustainability has become engrained in their business model and ethos. Alistair Green, chief strategy officer at


Studio Blvd, whose clients include River Island, Sweaty Betty, Ben Sherman, COS and Carolina Herrera fragrances, believes the industry is going through “significant change”. He says, “According to figures published by the Department for Digital, Culture, Media & Sport, Britain’s major creative industries (film, music


and


advertising) are valued at £101.5 billion, growing by a jaw-dropping 53% since 2010. “Behind the strong growth, however,


lies significant change. In advertising, the behemoths of J. Walter Thompson and Young & Rubicam (with more expected to follow) are being not just rolled into, but rolled under, the new banners of digital agency Wunderman and digital network VML.” Green says the UK’s creative industries


are growing, while old is being replaced by new at a pace never seen before. “The digital tipping point has arrived and the frontrunners of this new age are stomping all over those who have failed to keep up,” he adds.


THE SECRET OF SURVIVAL Being prepared to embrace change, taking into account new shopping preferences, listening to the needs of young consumers and being able to deliver your products faster than ever before, are some of the ways to survive in such a competitive trading environment. “The fashion industry is extremely


valuable to the UK economy, one of our biggest industries in terms of employment and job opportunities,” says Bethany Hamer of JulesB, an online and bricks-and-mortar clothing retailer, which has won the Drapers Best Independent Fashion Retailer in Britain award on three occasions. “Fashion is a global industry and although we are based in the North of England, we operate globally,” she says. “We ship internationally and we have a burgeoning customer base


in the UAE. We will continue to diversify our operation to benefit our international customers through e-commerce. We think globally too, which directly relates to how we choose brands for the business and how we market ourselves.” In the new world of shopping, retailers


need a slick online operation and reliable delivery service. “Our digital presence is growing and social media engagement knows no borders,” Hamer says. “We want to continue to be a part of the international fashion community and conversation.” While the Brexit issue is still unresolved,


it is hard to predict what effect it will have on the UK’s place at the heart of global fashion. Current trade in finished fashion goods between the EU and the UK is worth $23 billion (roughly 5% of the total European fashion market and 1.3% of the global fashion market, according to the McKinsey report). McKinsey believes that the UK textiles, apparel and footwear industry will be one of the hardest hit in terms of the impact of the UK leaving the EU in March 2019. “Some 63% of clothing designers and 55% of UK-based luxury goods makers are involved in exports and around 10,000 EU citizens are employed in the UK fashion industry,” it says. “The British fashion industry relies on


international trade, so the extent to which the industry is impacted really depends on the scenario and any ‘deals’ agreed to,” Hamer says. “Whatever and however it happens, it does seem likely that prices of imported goods will be impacted and that the industry’s access to European talent will, unfortunately, become more limited.” Hamer acknowledges that this has


made it difficult for an industry that often operates six months to a year ahead in terms of planning and design. “As an industry that works so far in advance, it is tough in fashion at the moment, because we know so little regarding the details. Obviously this is going to have an impact on exactly how we proceed,” she says. “The UK fashion industry’s focus must be on encouraging home-grown designers and entrepreneurs, while remaining accessible to international talent and allowing young people from the EU and beyond to continue studying, working and thriving here in Britain. This is what will allow us to remain competitive. “It is difficult to know at this point how much we will be impacted, but we hope to


14 | RELOCATE | SPRING 2019


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