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Opening Night 2020

Brexit Won't Mute The Voice Of British Luxury Brands

For luxury brands and fashion exporters, 2020 will be a year of transition before trading terms and conditions become clear. One thing remains certain, Europe is a vital partner for British luxury as the sector contributes nearly 800 billion euros in revenue annually to the European economy and now accounts for 4 percent of European GDP.

On Friday, at 11 pm UK time, Brexit became official. After four years of debate, anxiety and a general election, Friday 31st January was Brexit day.

According to Walpole, the sector body representing British luxury businesses, there is no doubt that trade challenges lie ahead. Not least, the introduction of friction in the form of tariffs or of new administrative burdens around the movement of goods and delivery of services will be an unwelcome and additional cost on luxury businesses used to trading freely across the channel.

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