Mind Retail covers IADS member's findings on the cancellation of VAT free shopping in the UK
Mind Retail wrote an article based on Selvane Mohandas du Ménil's findings on how London will be affected by the cancellation of the VAT-free shopping scheme in the UK. Mulberry shared that international customers, who used to represent 45 to 50% of sales in Bond Street, now account for 5%. The brand’s sales in the UK fell -10% for the past 6 months, while in locked-down China they are up +6%. At Selfridges, the scene was filled with shopping bags, suggesting tat for department stores, local customers are definitively a must-have.
Read the article in French below: