Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

London Fashion Week brings Brexit worries to the catwalks  Join our daily free Newsletter

MENAFN - AFP - 17/02/2017
No. of Ratings : 0
Add to Mixx!

(MENAFN - AFP) The British fashion industry kicked off its seasonal showcase Friday urging the government not to damage a thriving sector by cutting immigration and trade ties with the European Union after Brexit.

"Fashion week is a really great time to understand the power and influence of our industry, as well as our creativity," said Caroline Rush, chief executive of the British Fashion Council (BFC).

"We hope that you'll listen as we talk to you about visas, about talent, about tariffs, about frictionless borders, and around IP (intellectual property).

"Because this is incredibly important to sustain this incredible industry, that contributes 28 billion (32.7 billion euros, 34.8 billion) to the British economy and provides 880,000 jobs."

Prime Minister Theresa May is due to start negotiations on leaving the European Union within weeks, and has already signalled her intention to impose controls on EU migrants coming to work in Britain.

She has said this would likely come at the cost of leaving Europe's single market -- a major concern for the fashion industry, as the bloc accounts for about 70 percent of British textiles and apparel exports.

Over the next five days, London Fashion Week will showcase collections by more than 80 designers and brands, from Versace's Versus to Burberry, J.W. Anderson, Christopher Kane, Roksanda, and Mulberry.

But amid the glamour and the creativity, there is unease about what the future holds.

"The overarching feeling at the moment is uncertainty," said Adam Mansell, chief executive of the UK Fashion and Textile Association.

- Skilled labour and trade -

Access to the EU's single market is a key issue for the industry, but there are other concerns, such as the skilled labour used in British manufacturing, as well as trade ties with the rest of the world.

Mansell noted that British fashion is heavily dependen on imports, particularly large volumes of clothes made in Bangladesh, Pakistan, Myanmar and Turkey -- all currently tariff-free through EU-negotiated trade deals which must now be replaced.

While there has been a resurgence in UK manufacturing the past couple of years, with many high-end brands benefiting from the allure of British heritage, they are often staffed by skilled workers from the EU.

"A lot of the product that you'll see on the catwalk in the next few days is actually made in London. And I know several factories in London where the workforce is more than 70 percent EU," Mansell told AFP.

- 'Great diversity' -

With so many Europeans living and working in British fashion, their status after Brexit has been a priority for many brands and designers, and industry bodies have petitioned ministers to guarantee their right to stay.

"Our businesses are filled with great diversity and our business leaders protect, nurture and promote that fiercely," said Natalie Massenet, the founder of online fashion portal Net-A-Porter and chairman of the BFC.

May has said she wants to resolve the issue as soon as possible, but many Europeans -- some of whom have lived in Britain for decades -- are fearful.

The EU referendum in Britain and Donald Trump's election as US president have exposed deep divisions in both countries, while anti-immigration, anti-globalisation rhetoric is also growing across Europe.

Fresh off the plane from New York fashion week, Massenet noted the "seismic political changes" occurring on both sides of the Atlantic -- and said designers would not stay silent.

She said the fashion industry was a "brilliant example of a diverse global community", and wore a white bandana on her wrist as part of the #TiedTogether global fashion initiative promoting unity.

"Creativity, innovation, business, but also inclusiveness are at the heart of British fashion," she said.MENAFN1702201701430000ID1095252115



  MENA News Headlines
 Feb 26 2017 - Qatar Islamic Bank gets nod to raise AT1 Capital Sukuk limitThe Peninsula
(MENAFN - The Peninsula) Qatar Islamic Bank's (QIB) ordinary general assembly has given approval to increase the limit of the perpetual Sukuk (Additional Tier1 or AT1 Capital Sukuk) from QR5bn to ...

 Feb 26 2017 - Qatar Stock Index Gains 18.97 PointsThe Peninsula
(MENAFN - The Peninsula) Doha: Qatar Stock Exchange (QSE) index gained 18.97 points (+0.17%) when the bourse closed trading at 10,952.66 points Wednesday. The volume of shares traded increased ...

 Feb 26 2017 - Qatar- Action launches new corporate identityThe Peninsula
(MENAFN - The Peninsula) Action Global Communications yesterday announced the launch of its new corporate identity which reflects the company's strategic transformation now being led by its new ...

 Feb 26 2017 - Qatar- QICDRC appoints new JudgeThe Peninsula
(MENAFN - The Peninsula) The Qatar International Court and Dispute Resolution Centre (QICDRC) held its Annual General Meeting and appointed a new judge to the QFC Regulatory Tribunal. Lord ...

 Feb 26 2017 - Qatar Islamic Bank opens new branch at Awqaf TowerThe Peninsula
(MENAFN - The Peninsula) Qatar Islamic Bank (QIB)announced yesterday the official opening of a new branch at the Ministry of Endowment and Islamic Affairs (Awqaf) Tower in West Bay. Senior ...

 Feb 26 2017 - GCC firms 'should tap' non-bank options for fundsThe Peninsula
(MENAFN - The Peninsula) GCC businesses should explore alternative non-bank options available in the region to raise funds, rather than relying just on traditional sources of capital. Non-bank ...

 Feb 26 2017 - Qatar- QIC insured offers motor claims via WhatsAppThe Peninsula
(MENAFN - The Peninsula) QIC Insured, Qatar's leading insurer and the retail arm of QIC, yesterday announced the launch of a new service reporting motor claims directly through the call center or ...

 Feb 26 2017 - Ooredoo net profit rises by 4% to QR2.2bnThe Peninsula
(MENAFN - The Peninsula) Ooredoo Group's revenue touched QR33bn for the full-year of 2016, an improvement of 1 percent over 2015. In local currency terms, growth was driven by Ooredoo Qatar, Oman, ...

 Feb 26 2017 - Iran parliament stresses foreign investment in five-year economic planThe Peninsula
(MENAFN - The Peninsula) DUBAI: Iran's parliament passed a five-year economic development plan on Sunday that includes a sharp rise in foreign investment, though Tehran may not achieve that while ...

 Feb 26 2017 - Qatar- $50 oil price needed to spur investment: Al SadaThe Peninsula
(MENAFN - The Peninsula) Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada has said oil prices need to be higher than $50 a barrel to encourage oil sector investment. quot;You ...





Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help