Understanding the Brexit Effect on Luxury Exports
A recent study conducted by Walpole highlights the significant effects of Brexit on the UK luxury market. The findings reveal a notable decline in exports to the EU, particularly in the fashion sector. In contrast, exports to non-EU countries are showing signs of recovery. This shift underscores how Brexit is reshaping trade dynamics for luxury brands in the UK.
Walpole is urging the UK government to address these challenges head-on. The study emphasizes the importance of adapting strategies to mitigate the negative impacts on the luxury sector. Luxury brands must focus on enhancing their appeal in non-EU markets while navigating the complexities of post-Brexit trade.
