Most of the UK’s clothing is bought from Asia in dollars making fashion retailers particularly vulnerable to the pound's collapse following Kwasi Kwarteng's sweeping tax cuts
as retailers face large, unexpected cost increases for importing materials and merchandise.after retailers forced to pay significantly more when buying goods abroad pass on the additional costs to customers.caused the pound to hit a record low against the dollarMost of the UK’s clothing is bought from Asia in US dollars, so fashion retailers will be particularly vulnerable to the slump in sterling.
He added: “It is inevitable that unless these pressures ease, some of the costs will have to be passed on to consumers in the form of higher prices.”
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