Both the ONS and business analysts said the drop in trade flows was partly caused by stockpiling in December 2020, as businesses tried to get ahead of the introduction of the new rules, depressing trade in January.
Webinar in association with Hogan Lovells will feature fashion law expert Pamela Weinstock
Lawyers from Hogan Lovells will join entertainment and fashion law expert Pamela Weinstock to discuss the implications of the acceleration of digitalisation and ecommerce on the luxury sector at a web seminar next week.
The online event on 21 April, which is being hosted by the Luxury Law Alliance in association with Hogan Lovells, will set out to help general counsel and their teams anticipate and navigate the challenges that lie ahead as their businesses, customers and suppliers emerge from the Covid-19 pandemic having been profoundly changed by it.
Weinstock’s career has spanned the fashion, arts, media and entertainment industries. She has advised an array of top businesses, including Coty, fashion and lifestyle company Kenneth Cole Productions and Writers Guild of America. Based in New York, she chairs the International Trademark Association’s fashion industry group and is on the steering committee of the National Association of Women Lawyers Fashion Law Affinity Group
She will be joined by three Hogan Lovells partners: Aline Doussin, head of the UK trade team; co-head of the global tax practice Karen Hughes; and Sahira Khwaja, head of the London brands and co-head of the fashion and luxury groups.
The panel will discuss the impact of digitalisation on intangible assets and examine how it is forcing brands to change their marketing strategies. It will also address the impact of Brexit and the US-China trade war on the luxury sector and debate the extent to which these geopolitical forces are leading to the restructuring and decoupling of supply changes.
Khwaja said: “We hope that participants will gain a better understanding of how potential negative impacts on brands caused by digitalisation, and changes in the pattern of global trade, can be addressed.”
Weinstock added: “As the world begins to reopen, it is a great time for GCs and their teams to partner with the business to assess and address risks on recent pivots and develop new strategies in moving forward towards a new optimism.”
Click here to register for the webinar, which is exclusively reserved for in-house teams and management in luxury brands
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Trade between the UK and the European Union rebounded in February after a slump in January caused by Brexit.
Exports jumped by 46 per cent compared with January, but many companies are still finding that post-Brexit red tape is strangling trade with the EU.