Fashion will be among the major industries to suffer if the UK fails to negotiate a favourable deal in time for it leaving the EU, a new report claims. The EU took 74% of UK fashion and textile exports last year.
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.
The label has opened its first retail spaces in Spain this month and has announced plans to launch more than 50 corners at El Corte Ingles stores within 3 years. The expansion focuses on the brand's menswear line.
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.