Secretary of State for International Trade launches Walpole’s British Luxury sector’s trade mission to New York
Walpole, the sector body for the British Luxury Industry which counts 250 of the UK’s finest luxury brands amongst its members, launched its second annual trade mission to New York with a reception hosted at Hearst Tower to honour Glenda Bailey OBE, editor-in-chief of Harper’s Bazaar and attended by Secretary of State for International Trade and President of the Board of Trade, The Right Honourable Liam Fox MP and Consul General, Anthony Phillipson.
“UK Luxury is a jewel in the crown of British businesses, generating more than £50 billion in sales annually and employing more than 113,000 people.” The Secretary of State said. He added “The partnership between the GREAT Britain Campaign and Walpole is an excellent example of government and industry working together to increase exports as a proportion of GDP to 35% as set out in our ambitious Export Strategy. I look forward to the commercial outcomes of DIT’s continued partnership with Walpole and its member companies.”
Helen Brocklebank, CEO, Walpole said: “As the UK looks beyond its borders into its future global trading relationships, it’s particularly important that British luxury, a sector with an export value of over £25 billion, shows how successful high-end British brands are at doing business overseas. Not only is the US the single biggest market for British luxury, but also it offers a huge growth opportunity for the sector, as the appetite of the US customer for our brands and services grows every year. I’m hugely excited about returning to New York to show the creativity and innovation that typifies luxury in the UK, and to fly the flag for Britain for US visitors thinking of making a trip here.”
The transatlantic trading relationship for the British luxury sector, whether driven by luxury goods on sale in the United States or American tourists visiting the UK, has never been more valuable. Almost 80% of what the British luxury sector produces is destined to export and as the United Kingdom navigates its departure from the European Union the luxury sector is forging ahead with strengthening its trade and investment ties with its key export markets through its trade delegation to New York.