London Fashion Week: A very fashionable business generating  270 million pounds

The London Fashion Week is traditionally one of the global fashion shows that attracts the greatest deal of interest. No wonder that’s the case as the British fashion spectacle is just second to its sister event in NYC when it comes to both income generated and number of visitors.

The awaited British fashion biannual date generates in excess of 270 million pounds (more than 278 million euros) each season, according to data collated by FashionUnited Business Intelligence.

Furthermore, the British capital alone earns more than 50 million pounds with every London Fashion Week, receiving an average of 2,000 pounds per visitor. Paraphrasing Giorgio Armani, London is probably the only true city where you see the creative turmoil, reason enough for thousands of visitors to flock to the fashion capital to see the show.

Caroline Rush, chief of the British Fashion Council, summarised the LFW’s appeal on its inauguration day, saying that "London is the most diverse, multicultural and open city in the world and we fiercely want to protect that reputation."

10 key facts and figures on London Fashion Week

  • 85 shows and 33 events covering well-known labels and emerging talent
  • 5,000 guests coming from 70 different countries
  • 66 editions marked by this one, happening September, 15-19
  • 880,000 jobs supported by the UK fashion industry according to Oxford Economics
  • FashionUnited Business Intelligence calculates that the UK’s 66 billion pounds fashion industry accounts for 6 percent of UK’s market
  • This year, 28 billion pounds directly contributed to the UK’s economy from the UK fashion industry
  • Womenswear value sales rose by 1.3 percent to 27.25 billion pounds in 2016 and are predicted to rise to reach 28.77 billion pounds in 2021, says Mintel
  • Menswear market is currently the fastest growing segment in the UK’s fashion industry
  • Spend on fashion online is on the rise (+16 percent in 2015)
  • 9 billion pounds is the value of the web-based fashion and footwear market in the UK, expected to grow to 11 billion pounds by Euromonitor
  • Image: London Fashion Week September 2017. Credits: British Fashion Council