How will you be supporting the Walpole Trade Delegation to the US?
This year, we are thrilled to welcome the third annual Walpole British Luxury Trade Mission to New York. The trade delegation includes 18 excellent UK luxury brands and is taking place in partnership with the GREAT Britain campaign and the UK’s Department for International Trade. They have a wonderfully packed programme for their time here in the Big Apple and I look forward to seeing them all tonight.
Why do you think the US, and NYC in particular, such an important market for luxury?
The US is the UK luxury industry’s second-largest export market, and Walpole's annual trade mission to New York shines a spotlight on the tremendous demand for British luxury goods here, renowned for their quality, heritage, and innovation. Three-quarters of UK luxury brands choose the US as their priority export destination, and New York alone comprises 35% of annual luxury goods sales in the US. I'm pleased to welcome Walpole back to the Big Apple for an opportunity-rich programme for some of the most dynamic names in British luxury.
Given the current political/economic climate in the US, what do luxury brands need to consider in order to achieve future success in the market?
A: The UK and the US share a special relationship and will continue to build on it in the years to come. We are the biggest investors in each other’s economies and I look forward to seeing that trading relationship continue to flourish. The UK government is clear that we want all types of retail to thrive now and in the future and want to support the sector. This trade mission proves that the appetite for UK luxury is alive and well in the US.
What is your advice for British luxury brands looking to venture into the US market?
Continue pushing forward, always, and focus on innovation. The US-UK relationship will continue to develop as companies on both sides of the Atlantic look to invest and grow in each other’s markets, expanding and reaching more customers globally. This mission to New York highlights the importance and demand for British Luxury in the US and I look forward to watching these companies expand in the future.
What is your favourite bar or restaurant in NYC?
There are too many to mention! The amazing thing about New York is that you find a hidden gem, in the most unlikely place, all of the time. It’s wonderful to have a chance to explore it all!
www.gov.uk/world/usa
