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Why Brexit is good for the fashion industry

Why Brexit is good for the fashion industry
On the eve of the EU referendum in June during London Collections Men it wasn’t hard to gauge which direction the fashion pack was leaning. Unsurprisingly, thanks to factors such as the EU support of many of the initiatives of the British Fashion Council (BFF) and the fact that myriad young designers work with factories and suppliers from Lithuania to Lisbon, the community is an outward-looking and inclusive bunch. Indeed, during the campaign the BFC reported that of the near-500 designers it polled, 90 per cent planned to vote for Remain. Now the world has changed and in the face of a probable Brexit, whatever individual’s feelings may be the UK fashion industry has to start accentuating the positive. An obvious short-term silver lining is the weakness of sterling on the international markets has made London a bargain bonanza for shoppers paying in dollars, euros and yuans while reports are that e-tailing is booming. Astonishingly, the effects were almost instantaneous.

Does Fashion Have a Place in Politics? Whilst some may argue that fashion and politics have no business being mentioned in the same sentence- I disagree. My interest in fashion from a young age stemmed from a fascination in clothing’s purpose beyond the practical. I’ve always been intrigued by the way personal style acts as a non-verbal rhetoric that we use to communicate who we are with each other. Psychologist have deduced that it takes us just 3 seconds to make a judgment about someone based on their appearance. Much like politics, fashion is paradoxically elitist whilst also being democratic. And whether you’re a front row fixture, or couldn’t give two hoots whether the seventies are making a resurgence for SS15; (FYI: they are) you probably consider what the outfit you pick to wear each day conveys to the world to some degree- be that donning a suit to look smart and professional for a job interview, or wearing a particular brand to signal your allegiance to a style tribe.

What Brexit Means for the Fashion Industry Today's news that Britain has voted to leave the European Union has sent stock markets plunging and hammered the British pound, which hit its lowest point in decades. Although it will likely take years for Britain to untangle itself from the EU, many in the fashion industry are left questioning what the change could mean for their livelihoods. Of course, London is a major fashion player, with the fashion industry contributing an estimated $38 billion to the UK economy in 2014, according to the Business of Fashion. Advertisement - Continue Reading Below A weak pound and uncertainty about new tariffs could mean major challenges for UK-based businesses, which often source fabrics and produce in other parts of Europe. Before last night's vote, the British Fashion Council surveyed its members and found that the vast majority—90% of members—wanted to remain in the EU. This turmoil is predicted to affect prices of items coming into and out of Britain, as well. Getty

Political Movements in Fashion Can fashion have a political conscience? The question is a recurring one, and the answers are all too often clichéd. Examples of the industry’s insensitivity and lack of sympathy (or knowledge) towards social and political realities surface regularly in the media, and stories about blackface editorials and articles praising the “beauty” and “philanthropy” of the wives of Middle East dictators make the movie Zoolander look like a realistic take on the fashion world. However (and contrary to popular belief) fashion is just as often used as a social commentary. "In an ultra-connected world where news goes instantly global thanks to the Internet, it has become impossible for designers to ignore their political conscience" The political movement in fashion proved especially strong during the autumn/winter 2014 shows, as designers conveyed their activism through the catwalk. “I’m not politically outspoken but I make statements regularly in my work” — Pam Hogg Text by Marta Represa

After Brexit, which way for fashion? The impact of Brexit on the fashion industry is daunting, brain-scrambling and multi-levelled. The industry directly contributed £28bn to the UK’s economy in 2015 and employs 880,000 in roles from manufacturing to retail. For many British designers and stores, there will be an immediate hit on costs and margins. Once Brexit has been achieved, it could jeopardise design talent and retailers within the global marketplace forever. Sample the FT’s top stories for a week You select the topic, we deliver the news. During the campaign the British Fashion Council (BFC) reported that of the near-500 designers it polled, 90 per cent planned to vote for Remain. In the short term, some in the industry are happy. Luca Solca, head of luxury goods at Exane BNP Paribas, calls this positive effect “margin tailwind”. Buyers and retailers are nervous about speaking openly — they want consumers to continue shopping as if nothing has happened. Currency volatility is a huge worry. Photographs: Getty Images

Fashion’s most iconic political statements As the date of the UK election draws nearer, politicians have turned their attention to fashion and pop culture in an attempt to wrest the youth vote. David Cameron has claimed Kardashian kinship, Nick Clegg has starred in an “Uptown Funk” election anthem, and the Labour Party has channelled Katharine Hamnett with their “Hell Yes” slogan tee. These recent antics come as no surprise – fashion and politics have long been linked. Last week we paid tribute to Dame Vivienne Westwood’s best protests, one of the great masters of using fashion as a vehicle for social commentary. Now we turn our attention to other designers who have used their clothes to shine a spotlight on important issues. AW95’s “Highland Rape” show by Alexander McQueen saw the iconic provocateur present one of the most controversial fashion collections of all time. Fashion’s enfant terrible Jean Paul Gaultier caused a sensation when he sent men down the runway wearing skirts in his 1984 Paris show “And God Created Man.”

How retailers can fashion their way through Brexit People and Politics at Prada | Fashion Show Review, Ready-to-Wear - Autumn 2016 | BoF MILAN, Italy — For all that it was a triumphant return to form, Miuccia Prada's menswear show in January turned out to be a mere appetiser for the deeper, richer women's collection she showed tonight.‎ That was partly a reflection of her own feelings: "A woman is so much more complex than a man. She has to be a mother, a lover, a worker, a beauty..." But it was the way the clothes mirrored those multi-facets — and the emotional states that accompany them — that made the show a tour de force. Longtime collaborator Frederic Sanchez’s soundtrack of female singers ran a full drenching gamut, from the fierceness of PJ Harvey, to the pain of Piaf to the chill anomie of Nico, by way of sterling accompaniment. Her men were mariners, drifters. Some had tiny, padlocked books slung round their necks like pendants. Why? On her catwalk, Mrs P. offered her own vision of a polarised world: the powerful and the weak, the rich and the poor. For full coverage, visit BoF Fashion Week.

The pound’s fall and why it matters Image copyright PA Have you seen the new pound coin? It's a 50p piece. Admittedly, currency jokes aren't quite up there with Phoebe Waller-Bridge in Fleabag ("People make mistakes. Harold Wilson might have claimed that a devaluation of sterling doesn't affect the pound in your pocket, but it certainly affects the way the economy operates and therefore all of us. There are three broad reasons for the sickly state of the pound, which fell again this morning by a precipitate 0.9%. 'Flash crash' First, and fundamentally, it is a market judgement on the future growth potential of the UK economy relative to the future growth potential of competitor economies, and their currencies. If it is judged that the value of UK assets will grow less quickly in the future - and most economists have downgraded growth next year following the Brexit vote - then investors will discount those assets, sell sterling and buy more favourable currencies such as the dollar. Debt issue? Political issue

Fashion, Politics to Dedicate 2017 to Women - ASHARQ AL-AWSAT Haute Couture Autumn Winter 2016-17 by Lebanese international fashion designer Elie Saab. London-While all Parisians have transformed into political analysts talking about Brexit and its repercussions on lifestyle and fashion, fashion designers and the U.K. said that the coming years will be dedicated to women. Britain has made its decision and appointed a woman, “Theresa May,” as a prime minister for the first time since Thatcher. Fashion, on the other hand, celebrated femininity through romantic outfits shining with optimism, drifting away from a reality burdened by economic regression and terrorist attacks around the world. The fashion shows of Dior, Atelier Versace, Armani, Ralph & Russo, Giambattista Valli, Elie Saab and others have transformed Paris into an oasis to escape; not only from the sad, complicated reality, but also from the trending “sports fashion”. Inspired by the fifties, designers have gone above and beyond to meet the demands of today’s classic women. Related

From the Archives: Political Powerhouses in Vogue As the U.S. team heads to Rio in pursuit of its sixth back-to-back gold, all eyes are on Elena Delle Donne. By the time their daughter was standing two heads above her fellow kindergartners, Elena Delle Donne’s parents knew she was an unusual child, and were not terribly surprised when, aged ten, Elena joined a basketball team and led it to place third in the national championships. Recently voted Most Valuable Player of the Women’s National Basketball Association, Elena is currently poised to lead the U.S. women’s Olympic basketball team to collect its sixth consecutive gold in Rio. “She is a once-in-a generation type of player,” says NBA deputy commissioner Mark Tatum. “She’s a Steph Curry.” In an unlikely twist for somebody with Marvel-comic physical gifts, Elena’s life has also been shaped by extreme physical disability. The two sisters are extraordinarily close, often literally so. After lunch, mother and daughter retreat to the Delle Donnes’ 35-acre, multi-home property.

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