BREXIT news and archive

Report: British retail exports to EU fell six billion pounds post-Brexit

New research has shown that international sales to the EU by British brands and retailers have fallen by 5.9 billion pounds since the introduction of Brexit, with uneven impact seen across categories. Among non-food exports, Clothing & Footwear has been one of the most impacted categories, with exports declining from 7.4 billion pounds in 2019...

RetailFeatured

UK sees 750 million pound loss due to tourist tax impact on Chinese tourists

The absence of spending by Chinese shoppers due to the tourist tax is taking a toll on the UK, costing the nation an estimated 750 million pounds annually. A recent report from the Association of International Retail (AIR) has corroborated what many businesses have been emphasizing for months: high-spending Chinese tourists are now choosing to...

BusinessFeatured

Report details Brexit impact on UK fashion and textile industry, makes key recommendations

A new report has detailed the impact Brexit has had on the UK’s fashion and textile industry, and outlined five recommendations to support future growth. The report was jointly published by the Business of Fashion, Textiles and Technology (BFTT) led by the University of the Arts London, and the Future Fashion Factory (FFF) led by the University...

BusinessFeatured

UK and EU agree new Brexit deal for Northern Ireland

The UK and EU have come to a renewed Brexit agreement concerning the Northern Ireland Protocol. Called the Windsor Framework, the aim is to avoid a hard border between Northern Ireland (which is part of the UK) and the Republic of Ireland (which is an EU member state) by keeping Northern Ireland aligned with some EU rules and regulations. The...

RetailFeatured

Covid scars had deeper impact on UK retail than expected

The negative impact of the Covid-19 on the retail industry may have been underestimated, according to new official data. Findings from the UK’s Office for National Statistics (ONS) released on Monday indicate a shrunken economy and ongoing suffering in post-pandemic daily life for many individuals. The ONS said the revised estimates of GDP still...

Business |Interview Featured

Business in uncertain times: How Zalando is dealing with Brexit, inflation and shifted consumer sentiment

Online retailer Zalando is one of the leading destinations for fashion and lifestyle in Europe. The Berlin-based company serves 25 European markets with an overall consumer base of around 49 million. With its Platform Strategy at its centre, namely the marketplace model and connected retail, Zalando aims to achieve international growth by...

BusinessFeatured

BCC report highlights exporter issues with EU trade deal

Retailers and exporters have continued to experience issues with the UK’s EU trade deal since it was arranged in 2020, with a new report by the British Chambers of Commerce (BCC) further highlighting the “host of issues” that have impacted different industries. Research by the organisation, which covered over 1,000 businesses, has led the BCC to...

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How SikSilk is building its foundation for future growth with Modexpress

2020 brought a series of unprecedented challenges for leading UK urban streetwear brand SikSilk following the outbreak of the global pandemic and growing Brexit worries. After witnessing double-digit growth since its foundation in 2012, the brand brought in logistics expert Dean Jackson in June 2020 to help overcome its oncoming issues and set...

Business

Euratex report: “Brexit has been a lose-lose deal for the textile industry”

The European Apparel and Textile Confederation Euratex has looked at the latest trade data from January to September 2021 and found a “dramatic drop” of imports and exports of textile goods between the EU and UK, with exports falling by 44 percent to almost 2 billion euros and exports by 22 percent, corresponding to 1.6 billion euros. This means...

BusinessFeatured

UK signs 'landmark' free trade agreement with Australia

The UK has signed a trade agreement with Australia setting new global standards in customs and services and creating new work and travel opportunities for both nations. Agreed upon by UK prime minister Boris Johnson and Australian prime minister Scott Morrison in June, negotiators have now finalised the agreement with the final deal signed in a...

Retail

UK retailers facing record staff shortages

UK retailers are facing a worker shortage as the number of job vacancies in the UK has hit a record high. The latest figures from the Office for National Statistics (ONS) showed vacancies soared to 1.1 million between July and September, the highest level since records began in 2001. The largest increase in vacancies was in the retail sector and...

Retail

Next boss says overseas workers are needed to solve shortages

The UK is facing an exodus of foreign workers in the wake of Brexit, with shortages potentially disrupting the retail industry. As the busy Christmas season approaches, many companies will suffer staffing problems. High street retailer Next believes the labour shortages could be solved if foreign workers could be hired via a ‘visa tax.’ The...