Notes from New York City

The United States stands as the largest luxury market globally, with McKinsey & Company's latest State of Fashion: Luxury report projecting growth of 4 to 6% over the next few years, fuelled by a robust appetite for luxury goods, increasing disposable income, and decreasing inflation. Given that 70% of what we make in the UK is destined for export and the US represents one of our largest international markets – whether it's for goods on sale in the American market or American visitors coming to the UK – it's of paramount importance that British luxury brands connect in the right way with the tastemakers and businesses on the other side of the Atlantic. That's why, last week, we led a delegation of 25 representatives from our member organisations to New York City for a week of briefings, meetings and events for Walpole's biennial British Luxury Trade Mission, supported by the Department for Business and Trade.

Since we started organising these delegations, our mission has been twofold: to develop business opportunities in the US, while also enticing American visitors to the UK. As I've discussed with many of our members in hospitality, American guests remain vital, not only for our hoteliers and restaurants, but also for our cultural institutions and retail brands.

Throughout our busy week, we've fulfilled Walpole's mission to promote, protect, and develop British luxury by hosting events with JP Morgan, Hearst, the Financial Times, Bergdorf Goodman, and Christie's. We've organised intimate panel discussions with content creators, a fascinating hospitality roundtable with travel advisors and media, and culminated with an elegant cocktail reception at the British Residence, where Acting HM British Consul General, Melanie Hopkins OBE, was our gracious host. Each carefully curated event aimed to create tangible opportunities for British luxury in this crucial growth market, providing unique access and invaluable insights for members. (You can see all the photos from our events in the gallery below).

While here in America, I've been struck by the close ties between our twin cities of London and New York — their distinctive characteristics, undeniable connections, and the bridges between our luxury markets and shared customers.

Over the week, I've been particularly moved by the American appreciation for our British heritage and timelessness, while their openness and warmth of welcome creates valuable opportunities for meaningful connections. The exchange of perspectives with peers from different sectors has proven invaluable to me, highlighting the authentic character and distinctive appeal of British luxury in this vital global market.

As I pack my bags to return to London, I'm filled with renewed enthusiasm for the opportunities ahead and immense gratitude to all our members who joined us on this extraordinary journey and all of the people who made it possible. Together, we'll continue to showcase the very best of British luxury to the world.

With that in mind, here are some of my personal reflections and industry insights from my time in New York City...

We began with an insightful and thorough briefing on the US economic landscape from JP Morgan Private Bank. I was encouraged to learn that the ultra-high-net-worth population is growing at 5% annually through 2028, with positive wealth creation and incomes outpacing inflation. However, it's clear that uncertainty will characterise the next four years, particularly regarding US trade policy and tariffs – topics that dominated our conversations throughout our bustling week.

With 20% of customers responsible for 80% of revenues, our focus naturally centred on strategies to engage these high-value clients through unique, personalised experiences that particularly resonate with wealthy American customers. We were captivated by our visit to Q by Aston Martin on Fifth Avenue - a stunning club and showroom exemplifying exquisite brand storytelling and high touch customer experience which creates lasting emotional connection.

With Gen Z and Alpha driving 65 to 70% of luxury growth over the next five years, capturing their attention was the focus in our sessions with content creators including Karl-Edwin Guerre, Simon Goldman, Mustafa Kacar, Brynn Wallner and more. I took away crystal clear guidance: prioritise educational opportunities, think more creatively, and trust content creators to tell authentic brand stories through their distinctive voices. I'm convinced that long-term partnerships that build visibility and trust prove infinitely more effective than one-off collaborations.

The SAKS and Neiman Marcus merger, coupled with challenging extended payment terms, presents obstacles indicative of the evolving US retail environment. However, it was pleasure to spend time at Bergdorf Goodman visiting the personal shopping suite and beautifully curated store. I was heartened to hear speakers also highlight the advantages of partnering with family-owned stores like Nordstrom, highly curated concepts like The Webster, and independents such as the Mitchell's – retailers who truly understand their local customers and create beautifully tailored, personalised offerings.

Our meetings with editors and correspondents from Hearst, FT HSTI's Christina Ohly Evans, and Fairchild Media Group’s Jim Fallon explored best practices in storytelling and the American media landscape. Their advice resonated deeply with me: emphasise what makes British luxury distinctive (our unparalleled craftsmanship, rich heritage, and royal associations) while also showcasing our uniquely British creativity, humour, sense of fun and inimitable style.

During an engaging roundtable lunch hosted by Artfarm at its newest US venue, Manuela in Soho, we brought together British luxury hoteliers, wineries, cultural institutions, restaurateurs, and designers with travel advisors and media. Our lively discussions – sparked by our latest report, The Art of Luxury Hospitality, authored by Notable and Globetrender – centred on luxury hospitality trends, the many reasons to visit the UK and I was delighted to hear that the UK remains a favourite destination for American visitors.

At magnificent NYC HQ of Christie's, we assembled a thought-provoking panel masterfully chaired by the auction house's CMO, Gill Gorman Round, with speakers including John Wielk of the Met, Tina Vaz of the Guggenheim, Stacey Langham of the Royal Academy of Art in London, and Simon Scoot of Maybourne to explore the critical relationship between luxury, art and culture. Our conversation spanned creative inspiration, innovation opportunities, audience development, brand patronage, engaging the next generation of customers and support for emerging artistic talent — all highlighting the extraordinary power of thoughtful collaborations.

This week has reinforced my conviction in the importance of strategic, long-term investment in the US market which was a point made by Kathleen Ruiz, Founder & CEO of KRW Consulting over breakfast at Bergdorf Goodman. I'm more certain than ever that the 'build it and they will come' approach simply won't succeed; our brands must consistently create desire, maintain investment, and develop market-appropriate strategies, particularly focusing on key cities and customers.

This truly inspiring week spent with our remarkable members has revealed the genuine affection for British luxury brands in America. Three critical elements stood out to me: creativity is our superpower – be that is our beautifully crafted products, personalised experiences and our communications; collaboration is crucial to success, especially for our smaller brands with limited marketing resources but equally for larger members to build new communities; and courage to make bolder statements in the US market to achieve visibility and impact.

Huge thanks to the members who joined us, all of our kind hosts, the Department for Business and Trade (DBT), the GREAT Britain & Northern Ireland Campaign, and to Bethanie Summerfield and Heather Falconer.

Additional thanks to all the brands who generously helped with gifts, venues and beverages for our events in New York: ALR, Chapel Down, Christie's, Gusbourne, Isle of Harris Gin, Maison Margaux, Manuela, Monpure, and Neal's Yard Remedies.

Photographs by Collis Torrington