KEEP CALM & CARRY ON - Brexit: Brewing exit?


KEEP CALM & CARRY ON - Brexit: Brewing exit?
Europa Star WorldWatchWeb, 26 October 2016    Español
by Jeta B, Editor, Jewels
Fashion blogger, @trulavina - www.trulavina.com
Content strategist @JetaBejtullahu, www.jetab.me

Tea bag

IN

or

OUT?’

Brits ask you when brewing your cup of tea. Comedian James Acaster nailed it with his Brexit tea bag analogy. Leave the tea bag IN, he said, you get a stronger cup of tea. Get the tea bag OUT, you get a weaker cup of tea. But, once the tea bag is OUT, it goes straight in the bin.

KEEP CALM & CARRY ON - Brexit: Brewing exit?

The OUT vote is anything but a joke. Watching Britain unravel in the span of 24 hours was like watching a supercharged episode of House of Cards. It felt like President Underwood would come on screen any time now to offer his insightful sinister monologue about the shock. We can debate for days on end whether the vote was ill-informed, a protest vote, or a genuine sentiment; whether it was an internal Tory power struggle played with high stakes or whether the IN campaign failed to make the case for the economic benefits of the EU. Probably all of the above and more. Fundamentally, Brexit was a revolt against migration, whether real or perceived. As disappointed as the Brits were, it is the ‘foreigners’ who got the real punch in the face. If Muhammad Ali had delivered my personal punch, it would have probably hurt less. As a Europhile with a diploma in EU studies and a fan of quintessential quirky Britishness, I am left with a very bad taste in my mouth. So are the luxury fashion brands like Burberry, Mulberry, and Vivienne Westwood that rely on that very quintessential Britishness when marketing their brands globally. It is the vibrant, creative, and eccentric London style that international customers buy into. Will MADE IN BRITAIN lose its appeal?

In the short run, a weak pound has led to a boost in sales as luxury tourists flocked to London. Harrods is having a ball with increased sales while brands are generally keeping their fears about the future in the closet. UK is the sixth largest market for luxury spending and it could easily be the cheapest one in the world right now. It is hardly surprising there is a boost in high end jewellery sales and Swiss watch exports. If the luxury watch can be up to 20% cheaper, why not hop on a flight and enjoy a few nights in London too? It has been a conveniently warm summer anyway. A match made in heaven!

It remains to be seen whether luxury brands will be able to withstand further market disruption. Besides quintessential Britishness, the UK’s luxury industry is heavily reliant on exports and it needs free movement of goods and a stable exchange rate. Theresa May’s Brexit brainstorming confirmed she will be pursuing border controls at any cost. There will be tensions as the Treasury fights to keep access to the EU single market and London’s status as a global financial capital.

No wonder Britain is brewing exit a bit longer. When it comes to luxuries, will this tea be a strong or a weak one? Let’s hope the tea bag does not end up in the bin.

Source: Europa Star 4/16 Autumn 2016 Magazine Issue



Freely speaking…Metamorphosis of time and fashion
24 May 2017

Editorials - Freely speaking…Metamorphosis of time and fashion

I’ve just read my grandfather’s diary and I can’t believe all the fuss and bother he went through buying his gear. I suppose he looked cool in those days, but what a business. I mean bow ties and (...)
LAKIN@LARGE - Connected watches: breaking records or is it wind?
29 November 2016

Editorials - LAKIN@LARGE - Connected watches: breaking records or is it wind?

On September 21, 2015 the world of Dick Tracy and James Bond became reality: the Apple Watch was born.
LAKIN@LARGE - If you can't fix it, Brexit
26 October 2016

Editorials - LAKIN@LARGE - If you can’t fix it, Brexit

Friday, June 24, 2016, the morning after 17,410,742 Britons voted to leave the EU, the ferry I was on from Guernsey docked in Poole, Dorset in the south of (...)
LAKIN@LARGE - Shakespeare's time
17 June 2016

Editorials - LAKIN@LARGE - Shakespeare’s time

This year marks the 400th anniversary of the death of the ‘Bard of Avon’, that man of many words, mostly meaningful, William Shakespeare.
LAKIN@LARGE - Europa Star: A Zest for Bargains
17 March 2016

Editorials - LAKIN@LARGE - Europa Star: A Zest for Bargains

One of the world’s great bargains is the Star Ferry in Hong Kong. For 30 Swiss centimes (HK$ 2.50) you can take the ferry from Wan Chai to Kowloon, or vice versa, and if you make the trip at night (...)
LAKIN@LARGE - Europa Star: Surveying Surveys
19 November 2015

Editorials - LAKIN@LARGE - Europa Star: Surveying Surveys

If you are a regular reader of our magazine or a visitor to the Europa Star website, you may have participated in our recent Reader Survey and/ or read about the (...)
LAKIN@LARGE - A summer of contradictions
30 September 2015

Editorials - LAKIN@LARGE - A summer of contradictions

It’s been an odd sort of summer. Horologically speaking, little exciting has happened except news that Dmitry Medvedev, the Prime Minister of Russia, was recently seen wearing an Apple Watch, but (...)
LAKIN@LARGE: THE WORLD'S HAPPIEST COUNTRY
22 June 2015

Editorials - LAKIN@LARGE: THE WORLD’S HAPPIEST COUNTRY

According to the third annual World Happiness Report (WHR) - produced by the Sustainable Development Solutions Network, an initiative under the United Nations using input from leading experts (...)

Europa Star, the World’s Most influential Watch Magazine, is the premier provider of international watch industry news and information. For 89 years, we have supplied watch retailers, watch distributors, watch designers, watch agents and watch manufacturers with news from the international watch industry. Our web and print publications are of interest to the specialized watch trade and the world’s most knowledgeable aficionados, watch collectors and consumers. Our magazines and websites are available in several different languages, making them accessible to all international markets and an essential tool for anyone working in the watch business and all those passionate about watches.

© 2017 Europa Star - All rights reserved.