UK: state assistance to exporters reduced
BRITISH trade medium Lingerie Insight reported that many small and medium lingerie brands were up in arms at the news that the government department that subsidizes the cost of exhibiting at foreign trade fair had slashed its budget for the remainder of the current fiscal year. The amount of the budget for such assistance for the period January to March 2015, during which such major events as the S.I.L. and Curvexpo events take place, has been reduced by 50 per cent.
The budget cut will make it difficult for recent start-ups and young designer labels to show at trade salons outside the UK, thus reducing competitive pressure on other such brands from other countries. It will also deprive of assistance smaller UK suppliers that could show at Interfilière.