The fall in the value of sterling has been one of the most tangible consequences of Britain’s decision last June to leave the European Union, but what impact is it having on fashion brands?
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Many brands and agents have told us anecdotally that the ongoing currency headwinds are forcing a serious rethink when it comes to pricing strategies in 2017. Retailers are already bracing themselves for the hike, and have warned that at least some of the increases may be passed on to the consumer.
Today, Drapers is launching a pricing survey for fashion and footwear brands, agents and distributors of all sizes, to establish exactly what impact the cost pressures are having on their strategies.
If you represent a brand, we would like to know:
- Have you upped your prices since the referendum last June?
- By how much are you increasing prices and on what product?
- In what other ways are you coping with the rising costs?
- What impact will this have on your business in the year ahead and your relationships with buyers?
The online survey is short and the answers will be kept anonymous. The deadline is 17 February and the results will be published online and in an upcoming issue of Drapers.