The Impact of the Brexit for British Fashion and Worldwide

During my trip to London which indeed happened while decided the vote not as a member of the European Union or United Kingdom he stay, I found the concern which has society on what is happening in your environment, not just what happens in countries that use sport to dispute its superiority by taking a ball from one side to the other , but also very attentive on the consequences of political decisions.

The Impact of the Brexit for British Fashion and Worldwide

This led me to a survey made by the British Council of fashion reflects how well informed they are British designers already that more than 90% knew of the impact that Brexit would have for the UK fashion industry and therefore its position has always been in favour of continuing within the European Union.

It is clear that the designer understood the implications of the separamiento of United Kingdom of the Union European, this can break down it into the following points:

The increase of the prices of inputs by the devaluation of the currency.
The first thing that happens when a so shocking news in the history of the society as it is to the 5th power is unveiled more world’s largest leave part of the conglomerate of European States after being part of this from the 70s, is without doubt one destabilizing economic, which is reflected in a devaluation of its currency and checked with the volatility that has had the pound these days after announced the separation. This devaluation is reflected almost in a direct way in the costs of inputs, since many of the products assemble foreign and much of the raw material is imported.

Discharge of taxes for import into other countries
To be the advantage of free passage by borders, part of United Kingdom EU had what now mean medium-term special assessments result of all signed agreements that will be required with each country with which UK want to make or continue the business.

Limiting the growth of brands
A rise in prices and limiting international trade will have its effect on the ability of designers and brands to facilitate its expansion to other countries. From participatory policy in countries that do not have agreements with UK even in economically by taxes.

A rise in prices for the final consumer fashion
In the medium and long term the British people it will be affected since increases in inputs and costs directly affect the ability of the companies to continue to provide a product that an intermediary can commercialize and at the end will be the consumer who will have to pay for those increases.

Loss of funding and potential talents
Another interesting point that I came was also that several prestigious fashion institutions in United Kingdom as the London College of Fashion and the British Institute of Fashion, this last by the way is the maintainer of London Fashion Week, have a direct financing of the Regional European Development Fund which course ceased to be valid on UK institutions since they do not belong more to the EU.

The other interesting fact is about talent and the loss of this by ceasing to belong to the European Union, since it facilitated all prospect of designer access to preferential rates to study courses in prestigious British institutions such as Central Saint Martins, charged by the way, an estimated 10,000 pounds by MBA, which will be one much higher for foreign figure.

One reason more why as fashion we must be aware of everything that happens in our environment, the fashion industry is not only make clothes is not only make walkways or take photographs. It’s adapting to social changes also to offer a product that adapts to this new social evolution.