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U.K. Fashion Industry Embracing Online Shopping
By: Steven   |    January 21, 2013   |   0 Comments (0) (0)

Simon Dawson/Bloomberg

While shopping online for luxury fashions might make choosing a well-fitting garment that much more difficult, that's not stopping the citizens in the United Kingdom from doing massive amounts of clothes shopping over the internet. I'm sure this doesn't mean that physical stores will go anywhere anytime soon, but developing an online presence should be at the forefront of any company's business model.

 

As more British retailers succumb to competition from the Internet, a venture capital firm is underscoring the shift with its first investment in a fashion seller to develop its online business.

Scottish Equity Partners put 12 million pounds ($19.3 million) into Matches, which stocks labels including Alexander McQueen and Gucci, said Calum Paterson, managing partner at the Glasgow-based investment firm. U.K. shopping online reached a record 830 million pounds a week last month, the Office for National Statistics said in its December retail sales report today. That was 16 percent higher than a year earlier. Read More

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