Lycra summit: UK leads Europe in fashion retail

British shoppers are spending considerably more money on fashion items than their European neighbours, according to new figures from global market research company Gfk, writes Sarah Clarke from the Lycra Fibre Moves conference in Como.

While countries including Germany, France, Italy and Spain have seen a decline in fashion sales in the last four years, the UK has witnessed the opposite trend.

Speaking at the conference, Gfk global account director for luxury and fashion Giampaolo Falconio said that in 2015, shoppers spent €43.8bn on fashion items including outerwear, shoes, legwear and lingerie, up 1.1% from 2012.

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In Germany, the second biggest fashion market in Europe in terms of retail sales, shoppers spent €39.9bn on fashion items in 2015 versus €41.6bn in 2012.

Falconio also revealed that the fashion turnover in Europe hits almost €200bn per year, with legwear making up 21% of this figure and underwear contributing 8% to total fashion sales.

Germany is currently the biggest legwear market in Europe, accounting for 21% of all legwear sales across 11 countries last year, while the UK and Italy fell closely behind, both contributing 19% to overall legwear transactions.

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