British luxury brands to explore US market after Brexit

Source: https://apparelresources.com

Big British luxury brands are all set to capture the US market amidst the looming Brexit crisis.

Walpole, which is the official body for luxury brands in UK, took 18 British luxury brands to New York in October. The objective was to enhance the exports of British luxury products to the USA.

Walpole’s efforts hold relevance considering the uncertainties associated with export of products to Europe after Brexit.

Also, considering that Kate Middleton, the Duchess of Cambridge, and Meghan Markle too have been active supporters of UK luxury brands, the efforts of Walpole have got weightage.

It is important to note that the UK luxury segment is valued at US $ 41.1 billion, of which almost 80 per cent is exported.

US travellers to UK also connect easily with UK luxury brands mainly owing to similarity of heritage. Elucidating further on the same, Visit Britain tells that 3.91 million people from USA visited UK in 2017 – a yearly increase of 13.16 per cent from what it was in 2016.



Categories: Apparel, Brands, Business, Europe, United Kingdom, USA

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