Brexit - implications for the fashion and luxury brands industry
25 July 2016
The EU creates a framework through which the UK and the 27 other Member States cooperate. At its core is the principle that the combined territory of those states forms a Single Market within which goods, services, capital and people can move freely, there is fair competition and consumers and workers are protected. The fundamental principle is that EU citizens must not be discriminated against on the grounds of their nationality, including in relation to their free movement around the EU.
The UK has not left the EU yet and, as the UK has not yet triggered any legal exit process, it will likely remain a member of the EU for at least the next two years. The process and timing of Brexit, and the shape of the UK’s future relationship with the EU, are yet to be decided but some changes are almost inevitable. For the fashion sector, much will turn on the details of the arrangements negotiated for the UK during the two-year exit period before Brexit. With no clear plan for exiting the EU yet in sight, there are a number of possible options for what might follow Brexit.
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