Business: UK’s Fashion Industry Still Not Taken Seriously

As London Fashion Week draws to a close it seems the fashion industry, in general, is still regarded as a frivolous enterprise – not to be taken too seriously. 

This stance was highlighted in a recent article by Melissa Twigg for The Telegraph. Twigg noted the BBC’s recent coverage on London Fashion Week where an interview with Vogue’s Julia Hobbs was introduced by, “Now, onto something that’s slightly less..,or fun should I say,” from the presenter.

We all know what she was about to say, and yes, the fashion industry has and still does have a dress code problem – generally perceived as an industry that’s a bit shallow, not to be taken too seriously.

However, from a business standpoint the data suggests otherwise. According to figures from UKFT and Oxford Economics the estimate is that the fashion and textile industry contributes approximately £62 billion to the UK economy, equating to £1 in every £34 of the UK’s total gross value added. This sector supports around 1.3 million jobs, representing 1 in every 25 jobs in the UK, and generates more than £23 billion in tax revenues, accounting for £1 in every £30 of HMRC’s tax receipts. 

Tamara Cincik, founder of think tank Fashion Roundtable, commented in Twigg’s article: “It is more than just London Fashion Week which is just a tiny percentage of an industry. The multi-billion pound sector includes delivery drivers for our online purchases, sustainable micro businesses, manufacturers who stepped up to help make PPE in Covid and retailers on our high street who are struggling with the NICs increase and competing with online offshore retailers.”

Jenny Holloway, CEO of FashionCapital / Fashion-Enter Ltd added: “I always tell up and coming brands that to succeed they need to combine their unique creative vision with solid business acumen. Despite a challenging economic climate the latest figures underscore the fashion industry’s pivotal role in the UK’s economic landscape. Isn’t it time the media caught up to highlight fashion’s substantial contribution.”

Images from the Infdark AW25/26 catwalk show shot by ©Chris Yates/ Chris Yates Media