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Luxury Giants Urge UK Chancellor to Rethink Tax-Free Shopping Ban

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Gucci store in Paris | Source: Getty Images
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  • BoF Team

Follow our live blog for updates from the front lines of the fashion industry.

Latest Updates

  • The heads of 11 brands including Gucci and Hugo Boss warned UK Chancellor Rishi Sunak that plans to end the country's current VAT-free shopping scheme for international visitors would trigger a fresh and brutal tourism slump.
  • More than 60 brands including Primark, Burberry and Ted Baker are making new commitments to become carbon-neutral by 2040.
  • The US arm of Italian luxury brand Furla SpA has filed for bankruptcy due to the impact of the Covid-19 pandemic.
  • European fashion stocks surged Monday after the latest trial of Pfizer and BioNTech's Covid-19 vaccine showed it to be 90 percent effective.

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