While discussing UK’s grim future after Brexit over a cup of tea with a friend at the bar at the Connaught Hotel, located in close proximity to Bond Street, I notice that the space between the tables is slowly filling up with shopping bags – Burberry, Chanel, Dior, Valentino, Ermanno Scervino, Hermès...
Tired from the all-day shopping spree, sitting around me I can see representatives from various nationalities, just not Brits. A lady at the nearby table asks the waiter what the theme of the special afternoon tea is. ‘It is Wimbledon-inspired at the moment’, he replies. ‘We have cakes in the shape of tennis courts and rackets’. ‘It should have been Brexit-inspired’, the lady laughs. ‘What a feast!’.
Let’s go back two weeks.
London, 23 June 2016. Cold and rainy, the city is bustling with people. I can overhear comments about the referendum, which according to the majority of Londoners is a waste of time – it is obvious that Britain won’t leave the EU. Brexit is never going to happen.
Fresh break from politics turn out to be the unusually early summer sales – Harvey Nichols, Selfridges and Harrods have already reduced prices, significantly earlier than previous years. While in most European capitals the season of sales is just kicking off, here in London Oscar de la Renta, Gucci, Prada are already selling products half-price. Could it be because of Brexit? Highly unlikely. Most of the international community don’t consider Brexit to be possible.
London, 24 June 2016. The success of the “Leave” campaign is a stone-cold fact. Selfridges is eerily deserted, despite the appealing labels with final and exclusive sales. The store has never been so empty – the feeling is as if I’ve become a participant in an American apocalyptic thriller. It turns out that the fashion industry felt the pulse of public life and the political atmosphere better than a number of bookmakers, hedge funds and financial analysts.
The early discounts turned out to be a feast in time of plague.
London, 5 July 2016. Shops are full again. Filled with tourists from Asia and the Gulf; occasionally Russian speech can be overheard. The drop of the pound is especially enjoyable for Chinese tourists. According to The Guardian, a classic Burberry trench coat – a status symbol for the affluent Asians, drops from 13,757 yuan (1860 EUR) to 12 203 yuan (1650 EUR). The price continues to decrease every day. Always dreamed of a pair of Givenchy shoes? Harvey Nichols offers marvellous creations of the brand reduced by up to 80%; for under 200 pounds connoisseurs of luxury brands can obtain items by Lanvin, Alexander McQueen, Gucci and many others.
It is difficult to assess the consequences of Brexit at this stage. At the moment, however, one thing is certain – London hasn’t been such an attractive shopping destination for international tourists in decades.
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Biliana Konstantinova
