United States
 
Portugal
 
United States
 
United States
World Footwear
     Newsletter World Footwear www.facebook.com/worldfootwear www.linkedin.com/company/world-footwear
Latest News
 
Nike partners with FKA Twigs
Jan 12, 2017 / United States
 
Asics America strengthens leadership team
Jan 11, 2017 / United States
 
Kohl’s cuts FY outlook
Jan 11, 2017 / United States
 
Macy’s announces restructuring plan
Jan 10, 2017 / United States
 
Spanish footwear exports down by 7.8%
Jan 10, 2017 / Spain
 
Cavalinho, a passion generation after generation
Jan 9, 2017 / Portugal
 
Walmart acquires ShoeBuy
Jan 9, 2017 / United States
 
Shoe Carnival updates guidance
Jan 6, 2017 / United States
 
Genesco expects to meet guidance despite flat sales
Jan 6, 2017 / United States

Popular News
 
World Footwear Yearbook: 2016 edition is now available
Jul 27, 2016
 
Worldwide footwear production reached 23.0 billion pairs in 2015
Aug 2, 2016
 
EU footwear imports on the rise
Oct 24, 2016
 
Japanese footwear imports up by 4%
Oct 20, 2016
 
Asia represents 87% of the world footwear production
Aug 29, 2016
 
Taiwan consolidates investment in Vietnam
Jul 22, 2016
 
China's global share records huge drop in 2016
Oct 25, 2016
 
International footwear trade declined in 2015
Sep 5, 2016
 
US footwear imports drop by 6%
Oct 21, 2016
 
BFA: Brexit may represent a new start for Europe
Aug 16, 2016
 
China’s footwear exports down by 12% in the first semester
Oct 10, 2016
 
Brazilian Code shows the best of the local footwear industry
Oct 18, 2016
 
Deutelmoser explains GDS move to September
Sep 26, 2016
 
High heels for men
Aug 10, 2016
 
adidas to open US-based factory
Aug 16, 2016
 
Lower revenue at Stella caused by decline in casual footwear orders
Jul 22, 2016
 
Footwear industry in Germany picks up speed again
Aug 8, 2016

 
 
News /Trade

BFA: Brexit may represent a new start for Europe

Aug 16, 2016 / United Kingdom

Less than two months ago the UK voted in favour of leaving the European Union after 4 decades of a relationship that wasn’t always easy. We have spoken to the local footwear association to hear their views on the matter

According to John Saunders, CEO of the Bristish Footwear Association (BFA), “it is still really too early to say with any certainty what long term effect Brexit will ultimately have on the UK and the wider of global economy.”

The days following the decision of the British people were marked by market instability and currencies fluctuation, and this is expected to continue, as the aftershocks will hit the global market, already destabilised for many unarresting events.

One thing seems to be clear now: this is not an issue confined to the UK borders. John Saunders agrees and ads: “the effect of the referendum is not simply a UK problem with the effects already being felt across global markets. The UK footwear sector, with its international interdependencies, is far from immune from the resulting volatility. “

Mr. Saunders believes the Brexit could be an opportunity for exporting industries in the UK, and footwear won’t be an exception. “British footwear manufacturers are well placed to meet any increase in demand….this should bring a degree of upside opportunity for British footwear makers and exporters”.

Despite the fact that this might come as an opportunity for the UK, uncertainty is never good for business, and the upturn of having more competitive exports, is that the devaluation of GBP against the US dollar and the Euro will inevitably increase the cost of the UK importing finished footwear, internationally sourced components and raw materials (including leather).  This will result in an upward pressure on prices and will more likely reduce margins for makers, importers and retailers.

On the consumption side, we might witness more resistance to immediate purchases and a delay in the buying decision might take place in the UK. This could have a bigger impact across the industry, as the UK market with a 560 million pairs of footwear consumed in 2015, is - according to the 2016 edition of the World Footwear (available here) - the most dynamic one in Europe. So, any retraction in this market will have impacts for any footwear companies operating in the UK. 

But the impact won’t be contained to the UK market. The costs for British companies doing business overseas is expected to increase if the British pound continues to devaluate. However, John Saunders says the “EU as a whole may work better without the UK and will be able to move towards closer political and fiscal integration and control if that is what is desired.  However, Europe, including the UK, will always remain fundamentally linked from a security prospective, historically, culturally and importantly for trade - these points must form the basis of our ongoing future relationships.”

In a currently challenging environment for international trade, the UK might be forced to set agreements with some key trading partners such as Australia, Canada, Japan and the US, and the country clearly lacks experience in doing this, as in the last 40 years this has been dealt at central level by the EU.

Notwithstanding, Mr Saunders keeps optimistic: “Our hope has to be that in the end common sense will prevail on both sides. If this is the case Brexit may still prove to be a new start for the whole of Europe and offer a new way forward for us all.”
 


Next related events

Jan 24, 2017 | Telford, United Kingdom

Slide

Feb 12, 2017 | London, United Kingdom

Pure London

Feb 17, 2017 | London, United Kingdom

London Fashion Week

Feb 19, 2017 | Birmingham, United Kingdom

Moda Footwear UK

Mar 5, 2017 | London, United Kingdom

The Kensington Shoe Event



Related Organizations

ICT - International Council of Tanners

- The Shoe Museum

- London College of Fashion - University of the Arts London

- De Montfort University

- The School of the Arts - University of Northampton

 
 
World Footwear Events
Banner Subscribe Newsletter
Banner World Footwear 2016 Buy Here
Footwear Consumer 2030
Guidelines to subscribe World Footwear Public Calendar
Portuguese Shoes on WF 2016
GDS  February 2017
YKK
Turkish Footwear Industry
Next Events

Jan 17-Jan 19, 2017 | Berlin- Germany

Panorama Berlin

Jan 17-Jan 19, 2017 | Berlin- Germany

Premium Berlin

Jan 19-Jan 21, 2017 | Florence- Italy

Pitti Immagine Bimbo

Jan 20-Jan 22, 2017 | Prior Lake, Minnesota- United States

Northwest Shoe Travelers

Jan 20-Jan 23, 2017 | Paris- France

Première Classe - Port de Versailles

Organizations
  Media Partners
  Revista del Calzado
  UNIT Publishing House
  Fotoshoe
  ARS ARPEL
  Schuhkurier
  Hidenet 2
AboutContactsFAQ´sDisclosureConfidentiality agreementSubscribe Newsletter
www.facebook.com/worldfootwear www.linkedin.com/company/world-footwear