Today (Monday 3 February), 12 UK fashion and beauty retail companies with join Santander, The Bonfire Group, New Stand and Department of International Trade (DIT) for a week-long trade mission in the US. This is the first overseas mission to depart the UK after its withdrawal from the European Union and, as the US is already the largest export destination for UK goods worth £55billion1, the opportunities for UK businesses are sizeable.
The trade mission will include access to a pop-up shop in New York, a three-day workshop with seminars led by eminent senior figures from the retail and fashion industry on a variety of topics including brand and marketing, e-commerce, legal, wholesale and retail strategy. There will be a series of face to face meetings with local industry experts as well as information on local market access information.
The trade mission coincides with the lead up to US Fashion Week when key buyers are in the area looking to secure new trading relationships with suppliers and capitalise on the growing demand for UK goods from US consumers.
Companies who are attending the trade mission will showcase their goods in a pop-up shop at 306 The Bowery New York and include BeautyBLVD, Cubitts Glasses, Floris London, Hawkins & Brimble, Forever Unique, I Saw It First Ltd., Jameson Carter, Kate McIver Skin, Native Youth, Neon Rose, Regrowz, Sadaqat Global. The US mission is part of Santander UK’s regular series of international trade missions across a range of UK sectors that help businesses export and capitalise on trade opportunities. The fashion and beauty retail sectors are among the UK’s fastest-growing markets, with huge overseas opportunities, and Santander is well positioned to help firms capitalise on this momentum.
Adam Payne, US Desk Director, Santander Corporate & Commercial, said: “Our trade mission will open the door for UK businesses looking to expand into the US. It is crucial for businesses to have a good understanding of the local market and forging these connections alone is virtually impossible. Santander can help SMEs identify the best partners in market, retailers and routes to market as we have a strong presence in the region and excellent local knowledge.”
Aaron Battista Co-Founder of The Bonfire Group said “The Bonfire group is excited to have the opportunity to partner with Santander and their team on the “From Across the Pond” event in New York City. We are introducing an incredible array of fashion, accessory, personal care and home brands to the US in an innovative pop-up experience to capture the energy and innovation of British goods in the men’s and women’s marketplace. People will be able to engage and experience the brands in a unique and vibrant space at The New Stand, the type of strategy brands need to consider when making an impact in the US.”
Antony Phillipson, the UK’s North American Trade Commissioner and Consul General in New York said: “We’re delighted to welcome, in partnership with Santander, 12 UK fashion and beauty firms to New York for a week-long trade mission. The UK’s retail industry continues to thrive, and we are fully committed to doing all we can to help companies like these continue to expand and strengthen the strong retail trade ties between the UK and US.”
Santander’s most recent Santander Trade Barometer2 showed that 37% of businesses are planning to increase trade with non-EU countries post-Brexit. The US, China and Australia top businesses’ list of most desired post-Brexit trade deals and are seen as the countries with the most growth potential over the next year, with 30% of businesses identifying the US as the market most likely to generate the best growth over the next three years.
The Barometer also showed that businesses’ biggest concerns about trading internationally in most regions of the world are bureaucracy, the need to find local partners and market access. To help SMEs with this, Santander regularly and proactively gets UK firms out to markets to meet buyers and network with key stakeholders like this mission to the US. Previous trade missions have covered China, UAE, Chile, Argentina, and Spain, among others.
Santander’s international team has access to extensive local networks and knowledge around the world, and a long track record of helping businesses implement their international trade plans. This support ranges from working with businesses to identify new markets and organising trade missions to promising new locations, to introducing businesses to local partners, potential new customers and vital networks in key destinations. For more information on the international support available, visit www.santandercb.co.uk/international or contact International@santander.co.uk
UK firms interested in intending future trade missions should visit our website www.santandercb.co.uk
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Notes to Editors
Santander analysis of the ONS UK Trade publication tables, published 11/02/2019, showing overall export value including goods and services over time.
Research was undertaken by YouGov with 1,005 UK businesses with a minimum turnover of £1m between 31 July 2019 and 14 August 2019.
More information about the businesses who are joining the trade mission can be found on the links below:
Hawkins & Brimble
I Saw It First Ltd.
Kate McIver Skin
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 30 June 2019, the bank has around 24,000 employees. It serves around 15 million active customers, via a nationwide branch network, telephone, mobile and online banking; and 62 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
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