‘Old Money’ Tiktok trend drives demand for Rolex’s as buyers willing to pay more for ‘immediate access’ May 18, 2024 The boss behind one of Britain’s best known sellers of Rolex and Tag Heuer watches said there has been a surge in interest for luxury goods from Gen Z shoppers as they look to emulate the dress sense of the upper classes.
Selfridges to make redundancies at London HQ and hits out at ‘absence of a tax-free shopping’ May 9, 2024 Luxury department store Selfridges is to make around 70 redundancies at its London head office.
Watches of Switzerland: Shares crater 30 per cent as demand for luxury flattens January 18, 2024 Shares in Watches of Switzerland have fallen by over 30 per cent after the luxury watch maker warned on its earnings for the year. . In an update, the Rolex seller said that it was bruised by “challenging macroeconomic conditions” over Christmas which impacted consumer spending in luxury retail. It now expects revenue for the [...]
Liz Truss allies set to publish ‘growth budget’ days ahead of autumn statement October 15, 2023 Liz Truss allies are set to publish their so-called ‘growth budget’ just days ahead of Jeremy Hunt’s autumn statement. The former Prime Minister, who spent just 49 days in power, set up the Growth Commission after leaving Downing Street in a bid to challenge what she termed ‘Treasury orthodoxy’. Now the task force has announced [...]
Now is not the time for opportunistic personal tax cuts February 25, 2024 The government may think Slashing Income Tax or National Insurance will win votes, but boosting growth and restoring the UK's reputation as a stable place to invest should be the priority, says John Dickie
Mini-heatwave and Euros give hospitality hope for spending bump June 24, 2024 Leading figures in retail have said the warmer weather, in addition to the Euro football championships, could give a welcome boost to the sector, after a damp June.
Bring in duty free on arrival for post-Brexit boost, says Gatwick boss June 13, 2024 Introducing duty-free arrivals would boost the UK's competitiveness and stimulate jobs in the retail sector, Gatwick says.
Would London benefit from a tourism tax? April 16, 2023 What sets London apart from its neighbouring European cities? The City’s bustling financial centre? A super connected underground rail system? Its diverse population of inhabitants? The answer could well be London’s hesitancy to tax its tourists for overnight stays. Even the country’s de facto second city Manchester has followed in the footsteps of Paris and [...]
Electronic Travel Authorisation: Heathrow’s new £10 charge to change explained April 13, 2024 Heathrow has described the new ETA as a "huge blow" that will place the UK at a "competive disadvantage" against international rivals.
Retail sales up in April but analysts warn on implications of further rate hikes May 26, 2023 Retail sales volumes recovered slightly by 0.5 per cent in April as the sector was lifted by the Easter holidays, however high inflation and strains on household finances continue to hinder spending. Non-food stores sales volumes rose by 1.0 per cent during the month, data from the ONS shows, following a fall of 1.8 per [...]