London Fashion industry Insights
Fashion week – the designers, glam, creativeness flowing all over, fabrics, goodies and pure fashion, a females heaven! Something that we experienced a few weeks ago – clutched on to Dolce & Gabanna, Roberto Cavalli, Finsk and many more, as well as indulging in the goodies. We’re still having withdrawals from leaving the event, well the ladies in the office are!
An insight: the fashion accounts for 1.7% of UK GDP, twice as much as publishing, car manufacturing or the chemical industry! (Guardian – London Fashion Week displays its global credentials: 17 Feb 2012).
The Arab and Chinese market are key consumers to this industry, with their love of fashion and luxury labels.
The average spend of a Chinese customer on a single transaction in London during January to October last year was 1,058 pounds, 10 times the average spend of the equivalent British shopper. Money is no object for many Chinese shoppers, who have become a common sight strolling the polished floors of posh London department stores such as Liberty, Harvey Nichols and Harrods. (Reuters – UK muse do more to welcome Chinese: Feb 17, 2012)
While the latest figures from West End company which represents 600 premium retailers in London West End showed that Arab shoppers spend 15 times more than the average UK shopper.
Arab tourists from Saudi & the UAE on the other hand are spending £2000 in London priciest stores with June showing an 11% rise in sales due to wealthy Arabs in the capital spending £200 million (www.thinkethnic.com)
A very tempting market, to explore fashionably…