Made in Italy sales grew by more than 6% compared to the pre-pandemic year of 2019, thanks to the Chinese, American and French markets, marking a clear recovery for the fashion industry, which grew by almost 21% in 2021.
As retailers continue to campaign against the UK's changes to VAT-free shopping rules, new analysis from GlobalData claims Britain will lose its top spot in the European ‘duty-free’ market as spend falls 70% by 2025.
The London Stock Exchange has missed out some high-profile IPOs in recent periods and with Klarna planning to list its shares, the British government has launched a charm offensive to try to get it to list in London.
Which has been more costly to British businesses, Covid or Brexit? Both, according to ParcelHero. Its research reveals that the “self-inflicted wound” of Brexit has cost UK businesses as much as the Covid pandemic.
Brexit has reportedly shrunk EU textile/apparel imports from the UK, and EU exports into the UK market, by 44% and 22% respectively. A trend that the measures deployed on January 1 will further exacerbate.