British Prime Minister Theresa May announced her resignation on Friday following stagnated Brexit advancements and her inability to convince MPs to back her deal.

A second referendum was one of the new proposals of an amended Withdrawal Agreement Bill, which is likely to be opposed in its fourth iteration.

The future of British luxury brands and retailers remains uncertain as long as a no deal Brexit remains a possibility. Walpole, the trade body which promotes, protects and develops British luxury worldwide urges the government for frictionless access to markets via a customs union; regulatory alignment; and the safeguarding of access to creative talent and skilled workforce. To date no assurances have been be made.

While almost nothing went according to plan in the three years since the Brexit vote, the incoming Prime Minister will have until the end of October to have parliament back a deal.

In her resignation speech May said: “It will always remain a matter of deep regret to me that I have not been able to deliver Brexit.”

 

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