Brexit & Business – The Fashion Sector Speaks Out
The overwhelming rejection of the PM’s Brexit deal by 230 votes made history in the Houses of Parliament this week (15th January 2019). With the government and the possibility of an alternative deal hanging in the balance UK business leaders have expressed frustration and anger with the government failing to reach a compromise.
FashionCapital/Fashion Enter CEO Jenny Holloway, amongst others from the fashion sector spoke frankly to Drapers about their concerns, published the very next day by Tim Clark and Isabella Fish, Jenny said:
“Brexit is a mess. For us it’s the lack of certainty because we can’t make plans in investment and recruitment, and it just feels as though we’re treading water. Business can’t stop, so we just have to carry on and be aggressive.”
The article explained how the fashion sector relies heavily on imported materials and international talent, is particularly vulnerable to Brexit-related headwinds.
Businesses, retailers and suppliers have been quick to voice their frustration with the ongoing Brexit uncertainty resulting from the vote, claiming it has left them “stuck in no-man’s land”.
Commenting further on the situation Jenny added: “Every cloud has a silver lining and we have to make this work which ever way the vote goes.
“Our enquiries are at an all time high because retailers need little golden nuggets of newness and that can only be achieved from the UK with UK fabrics. Leicester is thriving with fabric developments.
Fashion Enter’s Factory in North London
“We can make British manufacturing great again. Whilst we may never return to the heady days where M&S was 94% British made we can see an increased percentage of production from the UK and ASOS.com have very much proved that this model works. We can turn around new product development from idea creation to delivery within just 3-4 weeks for a brand new idea and just two weeks for repeats. No other country can offer that speed of response.”