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‘Brexit’ impacts British retail: Speculations on rise due to weak currency

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Apparel Online India August, 1-15, 2016

READ MORE ON BrexitBritish retailFashion RetailerFashion WeekHome Furnishing Retailer

Contrary to many predictions and opinion polls, the people of Britain voted to leave the European Union, resulting in mayhem in the stock markets with the British pound hitting its lowest point in decades, another area that has been clouted with doubt and uncertainty is the retail sector. Although it is likely to take some years (two years at least) for Britain to untangle itself from the EU, yet many industry experts believe that it would adversely impact the fashion industry that contributes an estimated US $ 38 billion to the UK economy. The major challenge to fashion retail is being posed by a weak currency (pound) and uncertainty about new tariffs for UK-based business, which often sources fabrics and…

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Source: Apparel Online India August, 1-15, 2016
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