7% Growth of UK’s Fashion Industry In Recent Years
The fashion industry in the United Kingdom does pretty well, according to an article at Drapers Online. The article cites a 7% growth of the U.K.’s fashion industry during their recent years.
With this substantial increase, the U.K.’s fashion industry is growing faster than the wider economy in the nation.
In the years to August 31 2014, the industry grew by 3%. This past summer season experienced a growth of 2% which is the fastest increase in more than five years.
Several British industry experts amongst them the head of fashion at Kantar stated their opinion that the observed increase is mainly due to increased consumer confidence in the recent years. Mr Mitchell to the press: “Consumers are feeling comfortable buying more items despite the rather silly price inflation. This led to expenditure growing at its fastest rate since 2010”