The British Fashion Council today warned that a no-deal Brexit could cost the industry up to £900 million.
The BFC, led by Caroline Rush, said the latest figures from the UK Fashion & Textile Association suggest that switching to World Trade Organisation rules — in the event of Britain crashing out of the EU without a deal — would cost the fashion industry between £850 million and £900 million, based on export figures from last year.
The BFC today called on the Government to secure a deal with the EU that “would guarantee the healthy and steady growth of the fashion industry”.
It added that more government guidance was needed on “all different scenarios” and how the industry can best navigate global trade challenges in weeks to come.
The UK fashion industry is worth £32 billion and employs more than 890,000 people.
London Fashion Week opens next Friday.
