There may be concerns about UK retail as Brexit talks loom and shoppers are hit by higher inflation, but international tourist spend appears to be going from strength to strength with tax-free shopping up 55% last month.
French luxury goods group Hermes said on Wednesday it was starting 2017 on a solid footing after delivering record 2016 profits, providing further evidence of a broader recovery in the luxury goods industry.
Brands concerned about the impact of Brexit-related price rises on sales can draw encouragement from new research showing Britons will continue to buy premium brands. Yet they may also cut the amount they buy overall.
Pittards, the UK-based maker of technically advanced leather and luxury leathergoods, endured a tough 2016 that saw a new management team, a writedown and strategy changes, all resulting in a pre-tax loss of £4.1m.
Upscale UK lifestyle brand The White Company will open its first physical store in the US in June with the opening of an international flagship at 155 Fifth Avenue, in the Flat Iron area of New York City.