The British Fashion Council says, the country’s fashion industry is likely to lose up to £900 million in one year in a no-deal Brexit scenario. This estimates are based on export figures from 2018, which show that abiding by World Trade Organization rules would drastically increase annual tariff costs for retailers and fashion designers.

As per latest figures from the UK Fashion & Textile Association, the industry could lose between £850 to 900 million. According to the BFC, the UK fashion industry is worth £32 billion and employs more than 890,000 people, almost as many as that of the financial sector. As a result, the organisation has released a statement urging the British government to protect the industry and its workers as the risk of a no-deal Brexit is increasing.