‘There is certainly more optimism now than 12 months ago’ says Anthony Duckworth.
The Brexit process has been triggered and negotiations for the UK to leave the EU are underway. But what, if any, difference has it made to the licensing industry?
Is UK manufacturing actually benefiting from the current situation and is there such a thing as a ‘Brexit bounce’?
This week, The Source will continue to ask a selection of industry executives – from licensees and brand owners, through to agents and support companies – for their views.
Today: Anthony Duckworth, md, Dreamtex
“With regards to Brexit, the pound’s value in the world currency market continues to impact a business such as ours as we, like most licensees, import the majority of our range from around the world. The US dollar is the currency of choice for our suppliers and, therefore, the cost of the products have inevitably risen. The market is slowly recovering and there is certainly a lot more optimism than there was 12 months ago.
“Brexit does also raise the question of those who have taken advantage of the European grey market trade and, therefore, this should be seen as an opportunity for those who take local licences as there maybe some protection from selling out of territory and hiding behind the treaty of Rome.
“In terms of the licensing agreements, this has affected those in dollars as there has been a greater risk placed on the business due purely to currency.”