The UK luxury industry has praised a move by the US to suspend retaliatory tariffs of 25% imposed on a range of high-end products, including cashmere, wool, tailoring, and bedlinen, albeit for just four months.
In a typically blunt statement, Frasers Group has blasted Chancellor Rishi Sunak’s Budget as doing virtually nothing for hard-pressed retailers on business rates. And it seems some of its stores are at risk as a result.
The American retail giant has announced that it plans to support national manufacturers with $350 billion in added business over the next decade, with focus areas including textiles and small electrical appliances.
Finally, Paris Fashion Week had an actual live catwalk show. A drive-in runway event witnessed Thursday night by a few score of editors and influencers from inside Citroen DS7s and staged inside the AccorArena.
Building work will begin at the end of 2021, and the Catalan fashion group’s new Barcelona-based facilities will be fully operational in 2024. The new R&D and innovation centre will extend over an area of 93,400 m2.
This is a physical trading platform to keep an eye on. With the first Amazon tech-driven store opening in the UK Thursday, latest research from Mintel reveals that 76% of Brits say they would shop at one.