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Fashion Friday: The Perfect Storm for UK Fashion Retailers in the Aftermath of Brexit

May 26th, 2017

In the aftermath of the Brexit referendum, the value of the pound has depreciated by around 17% against the US dollar, and by 12% against the EUR. Retailers in the UK have not reacted as quickly, and UPs remained unchanged for another few months after the currency depreciation. As a result, from a global perspective, prices in the UK were lower and more appealing, which caused an influx of tourism to the UK as consumers hunted for luxury goods. Consequently, the UK has seen a significant rise in tourism spend.

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Kseniia Galenytska

Kseniia Galenytska is a research analyst at Euromonitor International. Kseniia holds two Master’s degrees - in Economic Analysis and Planning from Vilnius University and Economics Cybernetics from Dniprpetrovsk National University. She is responsible for the research of beauty and fashion industries in Eastern Europe with a special focus on Ukraine.

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Pia Ostermann

Pia Ostermann is a Beauty & Fashion Analyst at Euromonitor International. She holds a MA in International Business and Management from the University of Westminster in London. Pia is responsible for the research of beauty and fashion industries in Western Europe, with a focus on Germany and the UK. She has a particular interest in Watches, Jewellery, and the influence of digital technologies on the industries. Prior to Euromonitor, Pia worked in Merchandising at Deckers Brands and Aurora Fashions, and completed a Global Marketing Internship Programme at the LUXURE Media Group.

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