Brexit could signal the end of London Fashion Week

The existence of London Fashion Week could be under threat if the UK fails to come to a “comprehensive agreement” with the EU, a new Brexit report has warned.

The report, published by the House of Lords EU Internal Market Committee, detailed the potential impact of Brexit on the non-financial services sector.

With over 880,000 jobs and counting, it determined that the British fashion industry played a key role in the growth of the economy.

However, “the viability of London Fashion Week could be called into question, posing a direct threat to jobs in the UK and to the standing of the UK’s fashion industry.”

The British Fashion Council warned of the potential rise of copycat designs due to the loss of EU Intellectual Property protection.These protections are currently automatically given to designers but Brexit could mean both big and small fashion brands would have to pay to protect each individual piece of work.

This could amount to a huge sum, meaning that London’s bright young things may up sticks to elsewhere in Europe. The BFC added that UK designers would see London as an “uncompetitive” option and may lead to them joining big-name British labels Alexander McQueen and Stella McCartney in places such as Paris.

All of these changes could lead to “effectively closing down London Fashion Week as a platform to promote British businesses,” concluded the BFC.

The EU Committee agreed that a “comprehensive agreement on the protection of intellectual property rights” was required to protect the British fashion industry and its high-profile events.

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