“My clients have certainly felt the negative impacts,” says company’s md.
Ever since June 23 2016 when the UK voted to leave the EU, the implications and the potential path to a post-Brexit landscape have been much debated.
One of the immediate impacts was the sudden shift in the exchange rate of the pound against the euro and the dollar.
All this week, The Source will be asking some industry faces what this means for their business and the wider licensing community.
Today, Carl Richardson, md, Sweet Connexion.
How has the change in the exchange rate of the pound against the euro/dollar affected your business?
“I currently work with four importer/distributors in food and non-food, and all have certainly felt the negative impacts from the currency issues following Brexit. Prices have had to rise in line with significant additional exchange costs of between 13-15% against a retail backdrop which is not receptive to these increases.
“Wherever possible, my clients are looking to source certain components in the UK as opposed to the Far East or Western Europe.
“On the upside, I have two current UK manufacturing clients, both of which are seeing increases in demand for their products as an alternative to formerly imported goods.
“They are also strengthening their exports, again with Sweet Connexions’ support.”
This feature originally appeared in the spring 2017 edition of Licensing Source Book. Click here to read the full publication.
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