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The Brexit effect

Rainbow Club’s Richard Marsh talks business and the implications of the UK’s decision to leave the EU

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“No one expected the UK to leave the EU, and as International Resourcers and Traders, it was the last thing from a business perspective we needed - even the politicians campaigning to leave looked stunned when the result came through!” says Richard.

“The reality now is that our factory prices are nearly 15% more expensive than last year, with the sudden devaluing of Sterling against the dollar. So how do we combat this and endeavour to turn it into a positive?

“Fortunately we are a strong and recognised brand and our collections can command a more premium retail price if necessary - so our shoes will need to increase at wholesale and retail, however our retailer margin will be maintained. We will always keep increases to an absolute minimum and absorb what we can - we will guarantee prices for a year.

“Our continuity styles will have their prices held for a limited period to give our customers time to order and build stocks of our key lines, if they wish.”

“It will be a challenging transition but one we are prepared for and excited about. Our new collections have been received very well and forward sales are +29% on last year, which is very, very positive.”

See what else Richard has to say in the full piece in the September/October issue of Bridal Buyer.

Make sure you also check out our in-depth article, in the same issue, on Brexit, which is jam-packed with everything you need to know and the situation as it now stands

 

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