Value of Fashion Report
|Burberry Prorsum autumn/winter 2010 at London Fashion Week, February 2010
The ‘Value of the UK Fashion Industry’ report, commissioned by the British Fashion Council,defines the industry and analyses the true breadth and economic value of the UK fashion industry for the first time.
The industry’s direct economic contribution to UK GDP was collated by analysing the industry’s profits and wages (known as gross value added (GVA)) across a wide range of fashion products and items – including womenswear and menswear through to handbags and shoes – plus the contribution of fashion education, fashion marketing and fashion media.
The report also highlights the pivotal role of cutting edge British design, and showcasing events such as London Fashion Week, in driving innovation and growth within the industry itself, as well as attracting millions of visitors from across the globe to the UK every year.
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Economic consultants, Oxford Economics, researched and wrote the report, and it was funded by a range of cross-sector organisations including: the London Development Agency (LDA), UKTI, British Fashion Council, UK Fashion & Textile Association (UKFT), Aurora Fashions, House of Fraser, Debenhams, Land Securities, Marks & Spencer and New Look. The report follows the findings of industry wide consultation.