LONDON — Despite a sluggish outlook for the year ahead, an air of uncertainty surrounding the new coalition government and the impact of failing economies in fellow European Union countries, British trade show organizers maintain that business is booming. They say it’s because of the weak pound, which is attracting foreign visitors to trade shows here.
While the Confederation of British Industry said in March that the U.K.’s economic recovery is expected to remain slow — with few signs of real strength until well into next year — fair organizers are instead looking abroad to grow their businesses.
The pound is an obvious draw for foreign visitors, as it’s worth $1.44, or 1.17 euros, today, having decreased from an average of $2, or 1.47 euros, in 2007.
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“People want to buy in the pound at the moment,” said Samantha Bleasby, event manager of Pure, the women’s fashion and accessories show, noting that the new attendees included Canadian, Spanish, Italian, Japanese and Middle Eastern buyers.
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Regardless of the bleak picture painted by the CBI, Bleasby remains confident and is planning the largest show in Pure’s 13-year history this summer.
The fair, which is slated for the capital’s Olympia exhibition venue Aug. 1 to 3, reported a 41 percent rise in the number of international visitors, year-over-year, at the February edition.
Bleasby attributed the hike to the show’s mix of young designers and established labels that are exclusive to Pure. Although 60 percent of its brands are foreign, the show draws a predominantly domestic retail crowd, and Bleasby plans to capitalize on overseas interest by marketing the show abroad.
Textile Forum organizer Linda Laderman also remarked on the trend. “What was quite interesting in March was the fact that we actually had overseas buyers. It has always been a show predominantly for U.K. buyers,” she said, noting that foreign visitors from Latvia, Russia and the Netherlands placed orders and didn’t just sample.
However, Laderman said there was continued uncertainty among buyers in the U.K., and Richard Lambert, CBI’s director general, concurred the lack of a clear growth driver will make for a bumpy ride in the months ahead.
“We’re not out of the woods yet,” said Laderman, reflecting on the national mood. “I think it is going to be difficult for a while, but people haven’t stopped spending. I don’t think there’s as much pessimism. Obviously, what we don’t know is what’s going to happen after the election.”
Textile Forum is the U.K.’s only fabric trade show and runs Oct. 20 and 21.
Londonedge, the alternative clubwear show that runs Sept. 5 to 7, has also seen attendance figures boosted by international buyers. “Overall, the percentage of overseas attendance was 42 percent, which is the highest percentage we’ve had in quite a while,” said Carole Hunter, managing director of the show.
As a result, Hunter is looking into providing translators for non-English-speaking attendees. “It was the best attendance we’d had from Germany since the show began. I was amazed when we counted the figures.”
Simon Ward, co-chief executive officer of the British Fashion Council, noted strong attendance from Canada at London Fashion Week in February. “We think it stems from some of our leading designers originating from Canada, such as Todd Lynn and Mark Fast,” he said. Hong Kong also had a strong delegation, and Ward attributed it to the fact that they’re interested in developing Mainland Chinese fashion markets — which could have a huge potential for exhibitors at LFW.
Some shows have also noted an uptick in high-end labels wishing to reach a larger audience. This season Pure, previously a midmarket show, will unveil an area dubbed Pure Premium for higher-end brands. Bleasby said that over the last few seasons it has attracted a handful of brands with price points higher than its usual exhibitors. This in turn has attracted higher-end retailers to Pure, said Bleasby.
Additionally, she added, many of these brands felt they had nowhere to exhibit in the U.K.
“With London Fashion Week concentrating more on the catwalk side of things, sponsorship and not their exhibition, many of the brands…don’t actually have anywhere to show,” said Bleasby. Edited by price point, Pure Premium will be located in Pillar Hall, aiming to move the dedicated area to an expanded space in the Main Hall in February.
Despite the fact that Pure is currently operating at full capacity, Bleasby hopes to create a gift-and-intimates space to exploit London’s lack of a dedicated intimates trade show.
After conducting some market research, Hunter has responded to the needs and dislikes of Londonedge visitors. The September edition, relocated to the larger National Hall venue within Olympia, will feature more catering facilities, larger seating areas and a Wi-Fi lounge. The much-detested Olympia 2 carpet will also be a distant memory.