Weekly News Round-up: September 24th-30th

Weekly News Round-up: September 24th-30th

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Department for International Trade and The Rt Hon Liam Fox MP

Award-winning British artist Es Devlin OBE is set to design the UK Pavilion at Expo 2020 Dubai. The Pavilion will be the centrepiece of the UK’s presence at the Expo - highlighting UK expertise in artificial intelligence and the space sector.

The UK Pavilion at Expo 2020 Dubai will be produced by the London and Dubai based global brand experience agency Avantgarde. The Department for International Trade will lead the UK government’s presence with cross-government support.

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Vanessa Friedman for The New York Times

It’s official: America has its first global luxury group. Michael Kors’s purchase of the Italian brand Versace for $2.1 billion vaults the company — to be renamed Capri Holdings, after the Italian island — into the ranks of fashion conglomerates, a rarefied world defined by Kering and LVMH Möet Hennessy Louis Vuitton. 

He was right, and not just in terms of Kors but in terms of the fashion and luxury industry itself. There are implications that go beyond the purely financial to the root of luxury identity and the international fashion world. And they have the potential to be as disruptive, and formative, as any revenue stream. They speak to national pride, and to luxury’s sense of its own history.

Enrolment falls in arts and humanities subjects

N.B. This is why we at Fashion Roundtable support NSEAD and the https://www.baccforthefuture.com campaigns.

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John O'Leary for The Times

The options for prospective students looking for degrees in the arts and humanities could be narrower in 2019 if universities succumb to government pressure to drop courses that represent poor value for money. Although Sam Gyimah, the universities minister, has insisted that this is “not just a story about arts degrees”, most of the subjects propping up our employment and salary tables are in these areas. Drama, dance and cinematics, music and creative writing have the lowest starting salaries of our 67 subject groups, for example.

Countdown to chaos: retailers braced for no-deal Brexit

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Kirsty McGregor for Drapers

Faced with the possibility of a no-deal departure from the European Union in six months’ time, British fashion businesses are scrambling to put contingency plans in place.

If there is one image guaranteed to strike fear into the hearts of fashion manufacturers and retailers, it is that of articulated lorries parked along the side of the motorway, waiting to cross a border. Yet as the date of the UK’s departure from the European Union approaches, there is a real and worrying risk of queues at Calais and Dover.

Next is first to face up to Brexit — other retailers must follow

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Matthew Vincent for the Financial Times

It may be called Next but the clothes retailer has been First in many ways. First to add a catalogue business to an existing store chain in 1988. First to launch a website selling its full range, in 1999. And first to sell more online than in store, in 2018. Now, it is trialling a same-day collection service for stock already available in stores (even though this sounds suspiciously like old fashioned “shopping”).
So, it was perhaps no surprise that, on Tuesday, Next became the first retailer to offer another much-needed service: full details of how it has prepared for Brexit, and the impact on its prices and finances. In 10 pages of dispassionate analysis, it conveyed more than any Brexit-bus riding politician has managed. It seems we are better served by Next than Dexeu.

UK shoppers turn to credit cards to fund summer spending - UK Finance

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William Schomberg for Reuters

British consumers spent more on their credit cards in August as they borrowed to fund a summer shopping spree but companies are more nervous in the run-up to Brexit, lending industry data showed on Wednesday. British households remain under pressure from inflation that has been rising faster than their pay for much of the past decade. But they have shown little sign of slowing their spending as Brexit approaches.

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Vanessa Friedman for The New York Times

Under the twinkling lights of the Eiffel Tower at dusk, below a row of 10 towering white palm trees reflected in the black mirror of an infinity pool, in front of rows of gawking onlookers gathered on the steps up to the Trocadero, the first model of the Saint Laurent show appeared — and began to walk on water. In a man’s black trouser suit, a white shirt undone practically to her navel. Welcome to the second coming of sex.

Championing Change at Milan Fashion Week By Launching IFDC’s Modest Soiree

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Islamic Fashion Design Council Press Release

This exclusive event was hosted in dedication to modest fashion, featuring IFDC Award winners Bow Boutique (Saudi Arabia, Chantique (Brunei) and other Made - in - Italy modest brands, Luya Moda and Isabella Caposano. It was held at the prestigious Milano Fashion Library (MFL ), and technical partners theShukran Social Network, event sponsors Ithaly and VIP guests completed the unique ambiance.

"IFDC’s Modest Fashion Soiree was a great opportunity for me to showcase a different definition of modest wear taking inspiration from my childhood memories of my mum's love of orchids. I’m totally overwhelmed by this chance given to me to showcase my creativity at this show." - Fadzil Hadin from Chantique (Brunei)

Beyond the burkini — exploring 21st-century Muslim style

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Flora MacDonald Johnston for the Financial Times, featuring work by artist and friend of Fashion Roundtable, Hassan Hajjaj (pictured left).

Two years ago, several of France’s coastal towns decided to ban women from wearing modest swimwear on their beaches. The bylaws were swiftly over-ruled by the country’s higher court, but the story caused a stir around the world. For Jill D’Alessandro, curator of costume and textile arts at San Francisco’s de Young Museum, the debate over the “burkini ban” was the seed for an idea — one that has grown into a full-blown show, Contemporary Muslim Fashions, which opened at the museum earlier this week.

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Bloomberg for Style

Britain’s decision to quit the European Union has sent shock waves through the country’s couture industry, which faces stiff competition in maintaining its appeal as a leading trendsetter

In the 1990s heyday of “cool Britannia”, designers John Galliano and Alexander McQueen ruled the runway, Burberry’s tartan was the design of the moment and model Kate Moss zipped around the globe to the tune of Oasis and the Spice Girls, sporting a Union Jack blazer. But the music has stopped and today’s fashion kids are more likely to wear a European Union flag hoodie. The royal blue and gold-starred sweatshirts are a sign of a shifting fashion landscape, with industry angst growing over whether the UK can maintain its trend-setting reputation as it prepares to leave the EU.

Fashion chain Next’s Brexit homework puts Westminster to shame

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Fiona Walsh for The Irish Times

A growing number of companies have outlined their views on Britain’s departure from the EU, some in very strong language. Airbus has warned it may have to pull its UK investments in the event of a no-deal Brexit, and, more recently, Jaguar Land Rover warned a disorderly departure could cost tens of thousands of jobs.

But Next is among the first companies to provide a more detailed view, in a document entitled Brexit Preparation and Impact Analysis, which it published alongside its results yesterday.

ECB warns US most at risk from trade war escalation

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Claire Jones for the Financial Times

An escalation of the global trade war to engulf the US and all its major trading partners would hurt America much more than the rest of the world, economists at the European Central Bank have warned. President Donald Trump has emphasised that he wants both tariffs and quotas on imports to boost trade by levelling the playing field between countries that he accuses of using protectionist measures. However, according to research published on Wednesday, tariffs of 10 per cent on the US and all of its major trading partners would hit American economic activity by 2 per cent over the first year of the introduction of sanctions.

Customs delays of 30 minutes will bankrupt one in 10 firms, say bosses

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Richard Partington for The Guardian

Delays of only half an hour at UK ports and the Irish border would risk one in 10 British firms going bankrupt, according to a report laying bare the severe risk to the economy from no-deal Brexit.

According to the Chartered Institute of Procurement and Supply (CIPS), failure to reach a deal with Brussels before March could trigger massive queues of trucks at British borders from a vast increase in paperwork and checks to clear customs.

Boohoo bucks brutal British clothing market with online growth

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James Davey for Reuters

Fashion retailer Boohoo (BOOH.L) raised its sales guidance on Wednesday as it beat forecasts with a 22 percent first half profit rise, underlining Britain’s rapid shift to online shopping.

Founded just 12 years ago in Manchester, northern England, Boohoo has expanded quickly, listing its shares in 2014 and buying the PrettyLittleThing and Nasty Gal brands last year. British clothing retailers like Marks & Spencer (MKS.L) and Debenhams have seen profits slump and are closing stores, but pure internet players like ASOS (ASOS.L) and Boohoo are tapping-in to a generation of consumers who shop on their mobile phones and share fashion tips via social media.

Es Devlin OBE to design UK Pavilion at Expo 2020 Dubai

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Department for International Trade and The Rt Hon Liam Fox MP

Award-winning British artist Es Devlin OBE is set to design the UK Pavilion at Expo 2020 Dubai. The Pavilion will be the centrepiece of the UK’s presence at the Expo - highlighting UK expertise in artificial intelligence and the space sector.

The UK Pavilion at Expo 2020 Dubai will be produced by the London and Dubai based global brand experience agency Avantgarde. The Department for International Trade will lead the UK government’s presence with cross-government support.

Retail sales slump after bumper summer

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Jessica Clark for City A.M.

UK retail sales growth slumped slightly this month after a strong summer, according to the latest statistics. The Confederation of British Industry's (CBI) retail sales gauge fell to +23 in September from +29 in August. Department store, footwear and leather, chemists and recreational goods sales dropped last month, however growth was reported in durable household goods, hardware and DIY, Internet and mail order sales.

Momentum will be subdued going forward, the industry body said, as firms struggle to deal with slow growth in real household earnings, digital disruption and new market entrants.

High Street Retailer M&S Launches An Adaptive Clothing Line For Children With Disabilities - By Lottie Jackson

High Street Retailer M&S Launches An Adaptive Clothing Line For Children With Disabilities - By Lottie Jackson

A Fashionista's Guide to Politics - By Tamara Cincik and Rafaella de Freitas

A Fashionista's Guide to Politics - By Tamara Cincik and Rafaella de Freitas