The business of fashion

It seems despite there being a recession, job cuts, higher rate of living and unemployment designer luxury goods are still in high demand. And quite ironically, budget brands selling cheaper goods such as Peacocks and Barratts Priceless have recently gone into administration whilst luxury houses relish in the current economy.

Burberry’s turnover in the last quarter was up by 22 per cent and Mulberry has recorded that their Christmas sales were up 35 per cent on the previous year. So what is it about our love for all things expensive? Well, I think it’s that those who have money are just splashing it!

Companies are also expecting big profits during the Olympics; where tourists will be looking to snap of souvenir designer gear like the newest mulberry bag or Links of London bracelet rather than just pictures of The London Eye.

There’s also something about a truly British design that just screams ‘buy me’. We do love to stick to our own brands and pride ourselves with houses that contain our heritage- Alexander McQueen, Vivienne Westwood. And with Fashion Week hitting London; fashion houses will be sure to continue with their good spell.