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British luxury brands eye US market post Brexit
13 Nov '18
1 min read
British luxury brands are exploring the US market to forge new and stronger ties keeping in eye the uncertainties associated with exporting to Europe after Brexit. With an aim to grow British luxury exports across the Atlantic, Walpole, the official body for UK luxury companies, took 18 British luxury brands to New York last month, according to UK media.
The British luxury sector is valued at around $41.1 billion, 80 per cent of which is exported. American travellers to the United Kingdom reportedly show a strong emotional connection to luxury, reasons being shared heritage and history.
According to Visit Britain, 3.91 million Americans visited the United Kingdom in 2017, an annual increase of 13.16 per cent compared to 2016.
Walpole chief executive officer Helen Brocklebank said the United States the single biggest market for British luxury and offers a huge growth opportunity for the sector as US customer appetite for British brands and services grows every year. (DS)
The British luxury sector is valued at around $41.1 billion, 80 per cent of which is exported. American travellers to the United Kingdom reportedly show a strong emotional connection to luxury, reasons being shared heritage and history.
According to Visit Britain, 3.91 million Americans visited the United Kingdom in 2017, an annual increase of 13.16 per cent compared to 2016.
Walpole chief executive officer Helen Brocklebank said the United States the single biggest market for British luxury and offers a huge growth opportunity for the sector as US customer appetite for British brands and services grows every year. (DS)
Fibre2Fashion News Desk – India
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