Overview of the Fashion & Economic Value Report 2024

As the election period is nearing its conclusion, I wanted to provide you with pivotal insights from our latest report, "Fashion & Economic Value Report 2024." This report underscores the significant contributions and future potential of the UK fashion sector and outlines critical recommendations for driving sustainability, inclusivity, and economic resilience within the industry.

Overview of the Fashion & Economic Value Report 2024

Our latest report illuminates the vast contributions of the UK's fashion sector, which generates approximately £60 billion annually—nearly half of the total economic impact from the UK's creative industries. It explores the economic influence, regional growth, and pivotal role in sustainability and innovation of the fashion industry. Here are the key findings and recommendations from the report:

Key Findings:

1. Economic Impact: Fashion is the largest of the UK's creative industries, contributing around £60 billion per year to the economy and employing 1.3 million people.

2. Regional Growth: The fashion industry supports regional economies, with notable increases in fashion businesses in Scotland and employment growth in Manchester.

3. Sustainability Challenges: The industry faces significant challenges related to sustainable manufacturing practices and the environmental impact of fast fashion.

Recommendations:

1. Prioritise UK Manufacturing: Given the economic contribution of the fashion industry, it is crucial to prioritize keeping and expanding clothing manufacturing in the UK to boost economic growth.

2. Support Regenerative Practices: Introduce tax and financial incentives to support regenerative and sustainable practices, ensuring skilled jobs can be developed to underpin local economies.

3. Increase Responsibilities of Fast Fashion: Implement laws to hold fast fashion companies accountable for their environmental impact, preventing them from skewing the market in a damaging way.

4. Develop Recycling Infrastructure: Work with the private sector to unlock funding and space needed to develop textile recycling centres, creating jobs and supporting local economies.

5. Encourage Fashion Startups: Monitor the success of fashion startups and ensure university curriculums equip students with the necessary business skills to thrive in the evolving fashion industry.

6. Integrate Fashion in Devolved Powers: Consider the role of the fashion industry when allocating funding and powers to devolved areas, ensuring local strategies support regional economic growth.

The fashion industry remains a cornerstone of the UK economy, previously the fastest-growing creative industry in the country. Our report provides a comprehensive overview of the current landscape and proposes actionable solutions for leading in sustainability, social justice, increased social mobility, and boosting UK GDP.

We urge all political parties to incorporate these recommendations into their post-election strategies. This is a pivotal moment to ensure a sustainable, inclusive, and prosperous future for the UK fashion industry.

We also seek your support in raising awareness about our work and the critical issues outlined in our report. By highlighting these key findings and recommendations, you can help drive the necessary changes that will benefit the entire fashion sector and beyond.

For further details or to arrange an interview, please feel free to reach out to Jane in cc.

You can read the full report here.

PRESS RELEASE: Fashion Roundtable Hosts Meeting With Parliamentary Labour Party About The Impacts Of Brexit And Poor Policy On British Fashion

Image shows meeting in progress. 

PRESS RELEASE 

STEPS TO STOP The Death Of The British Fashion Industry: Industry Leaders Met With The Parliamentary Labour Party To Discuss The Impacts Of Brexit And Poor Policy On British Fashion

Topic: From Designers to Distribution, How Can Labour Support the Fashion Industry?

London, 23rd May 2023 // PRESS RELEASE

On the 17th May 2023, Fashion Roundtable, along with Shadow Minister Stephanie Peacock MP, hosted a meeting with the Parliamentary Labour Party where industry leaders outlined the dire need for urgent action for the British fashion sector, which was at one time the fastest growing creative industry in the United Kingdom. 

Chaired by Fashion Roundtable’s CEO, Tamara Cincik, speakers included Stephanie Peacock MP; Kate Hills, CEO, Make It British; Alexander Wills, Founder and Director, Fashion Formula; Julian Vogel, CEO, ModusBPCM; John Horner, CEO Models 1, Chair BFMA; Carson McColl, Co-founder, Hard + Shiny and Creative Director, Gareth Pugh Studio; Karen Binns, Fashion Director, Fashion Roundtable; Professor Dilys Williams, Head of Centre for Sustainable Fashion, UAL. 

The meeting gave an overview of the current landscape for UK-based manufacturers and the key challenges and proposed solutions to support the sector to lead on sustainability, social justice, increased social mobility for working-class children, and increased revenue for UK GDP. The UK is not currently on the forefront of legislation coming out of the EU and needs to be more aligned and active with developments to enable the sector to operate in a global market. 

Tamara Cincik, CEO, Fashion Roundtable said: “Fashion is core to culture and business, as the largest of the creative industries, it was the fastest growing sector until recently and a massive employer. UK talent leads in work across sustainability, social impact and digital initiatives, but it needs support from the government if it is to thrive and not drive our talent to relocate due to a combination of a lack of support, overwhelming red tape and critical underinvestment. That is why a meeting attended by Stephanie Peacock MP, Shadow Culture Minister, was so important for stakeholders to communicate their frustrations and outline key priorities and ambitions to drive opportunities for the UK at this critical time in the build up to a General Election.”

Shadow Minister, Stephanie Peacock MP said: “The fashion industry contributes tens of billions of pounds to the UK economy, from mainly small and medium sized businesses across the country. I am thankful to all the experts who joined the Labour Party and myself in Parliament to discuss the industry at our roundtable. It was great to hear directly from them and learn about what the industry needs to thrive in the UK.”

Points To Note: 

Market Competition 

Stakeholders confirmed that brands and manufacturers are finding it difficult to retain market share and remain competitive when many other brands offer cheaper prices due to producing lesser quality items, made under different factory conditions. There is vast competition from suppliers, brands and retailers who are not abiding by UK standards which Professor Dilys Williams, attributed as a ‘licence to do harm’.

Employment, Skills, Retention, Training, Education 

Due to Brexit and a lack of EU-skilled workers willing or able to work in the UK, the sector is unable to meet the level of employment required. UK residents do not have the skills or desire to work in a factory/supply chain and retaining skilled workers is very difficult. Kate Hills, CEO of Make It British, offered that while the UK does have world class universities that are creating hundreds of designers, there are not enough people who want to work in roles such as factories, machinists, product development etc. 

Freedom Of Movement 

All stakeholders agreed that the industry is now in a far worse position compared to the sector’s EU counterparts. Due to Brexit and visa requirements people are unable to work in the EU at short notice, which is a particularly difficult situation for freelance creatives, and especially for models who need to be physically in the place of proposed work before being booked. Julian Vogel, CEO of communications behemoth ModusBPCM stressed that the EU Entry/Exit System (EES), an automated system for registering travellers from the UK and other non-EU countries each time, will only exacerbate the situation. 

The industry also relies heavily on transporting samples for press, model fittings and production. Particularly new/smaller designers are finding it extremely challenging to operate and know how to enable their business to function in relation to this specific issue. Stakeholders were in agreement that it is now extremely difficult to import and export goods and components from other countries due to red tape and increased cost and timelines. 

Funding And Investment 

Overseas (EU) countries are given substantial funding to help promote their businesses internationally and this support does not happen in the UK. As the market has become more challenging brands who operate internationally are deciding to not invest in the UK as much as previous years. This is because their investment is based on sales in the local market. With the cost-of-living crisis and lack of overseas visitors, due to the VAT Retail Export Scheme, the UK is being overlooked and places such as Paris are now being chosen to open Flagship stores, leaving the UK lagging behind to create a competitive market place. 

Notes to Editors:

Stephanie Peacock is the Shadow Minister for Media, Data, and Digital Infrastructure.

The Parliamentary Labour Party (PLP) is the parliamentary group of the Labour Party in Parliament.

Fashion Roundtable is the only think tank dedicated to reimagining a creative and responsible fashion industry. 

For more information please contact:

admin@fashionroundtable.co.uk  |    www.fashionroundtable.co.uk

Fashion Roundtable Advises MPs On The Importance Of High-Street Regeneration

By Meg Pirie 

Source: Office of John McNally MP. Attendees at meeting.

Last week, in our capacity as Secretariat for the All-Party Parliamentary Group (APPG) for Ethics and Sustainability in Fashion, Fashion Roundtable hosted a jam-packed meeting on regenerating the high street, sponsored by academics from Manchester Metropolitan University and Metropolis. 

Prior to this meeting, we had briefed the Chair of the APPG for Ethics and Sustainability in Fashion, John McNally MP, which prompted a question to the Prime Minister Rishi Sunak at Prime Minister’s Questions. The question centred around the “eat out to help out” scheme which was introduced in August 2020, which in turn increased the demand for eating in restaurants by 216% compared to 2019, and tasked the Prime Minister to consider a similar scheme for ‘bricks and mortar’ retail as part of the wider plan to regenerate local high streets –– ‘bricks vs clicks’, if you will. 

The meeting entitled, ‘Building Community Agency Through The Purposeful Use Of Unused Retail Spaces,’ was in direct response to the state of our high streets at a national level. Research conducted by Fashion Roundtable, provided evidence that the Covid-19 pandemic, Brexit, shifts to digital rather than ‘bricks and mortar’ shopping, and the ongoing cost-of-living crisis have changed consumer behaviour, alongside record retail closures. 

To offer a little more context, in 2021, PWC reported over 17,500 chain stores closed in 2020 alone. More recently, the Centre for Retail Research (CRR) recorded that retail closures affected 34,907 employees in 2022. A consumer survey by PWC suggested that the onus to repair the high street should not fall solely on retail solutions, while CRR suggested that remodelling large obsolete stores to add services such as clothing repair, cafes and concessions could provide a solution. 

Finally, the PWC survey showed that 44% of participants would prefer a focus on experiencing and exploring [a brand] rather than the only option being to purchase. Seemingly, this opens a discussion on the importance of experience, connection and community to rehabilitate the high street and locality, whilst stimulating local business. Also showcasing a clear opportunity to align investment to deliver town centres that reclaim maximum impact  with hyper-locality as a key focus. 

Source: Office of John McNally MP. Julia Roebuck speaking.

The event attracted speakers from across the country to share in detail about the opportunities and barriers to utilising vacant spaces in this way. Liz Twist MP (Labour Party), shared her concerns on the loss of the physical presence of retail on the high street and its impact on jobs in her constituency of Blaydon. Liz Twist called for a reform of business rates to take businesses out of their current ‘survival mode’.

While Maria Chenoweth, CEO of Traid and co-founder of Charity Super.Mkt weighed in on the benefits of utilising the vacant Topshop building in Brent Cross, where in just 6 weeks they sold 40,000 items and raised over £370,000. As a retailer with purpose in 12 weeks they have raised just under £600,000 and diverted 17 tonnes of clothes from landfill, while enabling many charities such as Havens Hospices to offer patients 1,000 hours of specialist end of life care, within their own homes, amongst helping many others in the process. 

Source: Office of John McNally MP. Left: Kemi Gbadebo, Right: Alison Carlin.

Alison Carlin, founder of Manchester Fashion Movement was also among speakers who had started the community interest company to empower, connect and engage people in a movement that sees communities around Greater Manchester better understand the benefits of approaching fashion with a more sustainable outlook whilst helping them recognise the real impact of the fashion industry and the important role we play as individuals.

One of the brands utilising the space was luxury, sustainable, streetwear brand, Gbadebo –– who specialise in reworking donated, damaged or unwanted textiles and transforming them into new, 90's-inspired streetwear pieces. Founder, Kemi Gbadebo said:

“Having worked with all levels of companies from grassroots like Manchester Fashion Movement to The North Face, Adidas and luxury retail like Flannels in the next couple months, it’s clear that on all levels companies are seeing the benefits of bringing in creatives and small businesses to bridge the gap and reimagine retail spaces on the high-street to provide engaging point of sale experiences for consumers.”

Source: Office of John McNally MP. Fashion Roundtable CEO Tamara Cincik.

To end the session, Julia Roebuck from Thread Republic, a Mend Assembly affiliate based in Huddersfield said: 

"It has been so inspiring to learn more about the innovative projects being developed and delivered by third-sector fashion and textile organisations around the UK. These organisations, and many more like them, are perfectly placed to explore new models of fashion and textile experiences on the high street that have sustainability at their core, providing many answers to the question of ‘what next’ for our town centres. 

“Whether it's providing new and exciting opportunities for citizens to source pre-loved clothing and textiles, supporting talented makers and independent clothing brands, learning new skills or enabling circularity, all of the innovations we heard about today lead to empowered communities, improved social cohesion and increased footfall on the high street"

Of the event, Manchester Met academic Professor Fiona Hackney commented:

"Shared concerns about the urgent need to change unsustainable fashion behaviours combined with the fear that we are fast losing our high streets ensured that this was a well-attended and stimulating event. MPs, fashion activists, brands, and agencies – many from Fashion Roundtable’s influential network – reviewed problems and responses, much of it based on hard-won, first-hand experience. The event enabled those working on the ground to re-imagine our fashion and retail system to talk to policy makers and meet other like-minded organisations from across the country.”

As a next step, Fashion Roundtable will be taking this work forward with a full report. You can click through to read the full briefing, as well as a look at John McNally’s question on high-street regeneration at PMQs below.

Click through to read the Briefing in full.

Click through to watch John McNally MP deliver his question at PMQs.