Helen Brocklebank is the chief executive of Walpole, the official sector body for the UK’s luxury industry. As the wider industry faces economic uncertainty, there are still opportunities aplenty if you know where to look. Here, we talk to Brocklebank about emerging trends and Walpole’s role in supporting UK talent. 

What trends in the industry are you seeing emerge? 
From the customer’s point of view, the origin and personality of the product’s place of production is increasingly important. There are very interesting national characteristics in the premium market. French luxury is opulent and there is an element of art for art’s sake. The Italian economy is slightly broader with many entrepreneurs and founders of brands such as Prada and Armani. Then there are other sectors including design, hospitality and gastronomy. 

The UK industry is broad as well, with 12 sectors. There are the personal luxury brands, which include Burberry, Manolo Blahnik, Mulberry and Dunhill, all the Savile Row tailors, Church’s shoes, Boodles and Jessica McCormack among others. But the biggest sector is premium automotive: think world-class manufacturers such as Bentley, Rolls-Royce, Aston Martin and Land Rover. 

Then there’s food and drink (scotch whisky is the biggest UK export in that category), hospitality, beauty and fragrance. The idea of taking into consideration where something is made is a real theme in all of these categories. 

The market is much tighter this year for premium goods. Of course, there is an external context with geopolitical upheaval and financial turbulence. In the UK, of the £81bn (€96.2bn) value that the industry has, £56bn (€66.5bn) is destined for export. So international customers – particularly from the US, the Middle East and APAC – are hugely important. When one catches a cold, or all as they have recently, that causes disruption. 

During this global recalibration of the industry, there has been a period of complacency. The slowdown has been a shock but one that brands have leaned into very quickly. This is why we have seen numerous international labels change creative directors. It’s because creativity is the secret sauce of luxury.

Constraint is the godmother of ingenuity. You have to focus on the true fundamentals of premium craft, which is creativity, extraordinary craftsmanship and quality that gives customers a reason to believe in provenance. Scarcity is a factor as well, a term rarely mentioned in the business recently. 

The UK’s luxury industry is uniquely placed to win in this market because of its unique entrepreneur-led brands that value new ideas. 

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Which sectors do you see new opportunities in? 
Transformative luxury or the idea of transforming the self by optimising our bodies. At the extreme end, it’s about biohacking and extending lifespan. But how can we make sure that our life is as rich as possible in every way? It’s where medicine and premium care meet. When you’ve got everything you can own, luxury becomes what money can’t buy. 

In this slightly constricted market, we’re still seeing growth in the top end. About one per cent of the consumer base is responsible for 40 per cent of purchases. Every brand is looking to see how they can better understand the needs and passions of their very important customers (VICs) and how to deliver products in a way that feels meaningful. Personalisation of experience relies on knowing the buyer’s behaviour and how it changes according to geographic region. What a VIC wants in the US will be different to those in China.

There are big opportunities despite the tariffs and the Chinese market. China accounts for 11 per cent of the UK’s luxury exports and it’s a rapidly developing economy that is growing by five per cent a year. There’s no systemic fault in China’s economy – it’s an 18-month to two-year problem. So how do we make better and meaningful inroads into their market? The consumer base is there, so it’s up to the brands to drive the beauty and message behind a product. 

How much more relevant will the ability to cross disciplines become?
For any successful label, the starting point is the customer’s lifestyle. You must ask: how can we show up in as many places in their life as possible? Prada now creates tableware and Armani Casa has been around for a long time. Even Bentley has a design division. 

It will be interesting to see how that cross pollination continues. It’s good to know how you can become part of your customer’s world. With a manufacturing facility’s skills, you could be making a beautiful chair while also making a great pair of shoes. Johnstons of Elgin produce incredibly high-quality cashmere in Scotland for all the top-end international brands but they also do the most luscious interiors. It was able to translate its gorgeous cashmere blankets into an armchair, curtains and even wall coverings. 

There is a balance to preserve; a brand shouldn’t forget its core and try to do too many things. But you have to be playful. Luxury must not forget that it is about joy and fun. 

How does Walpole support the luxury industry in the UK? 
Walpole is the only sector body in the country that acts as a collective voice for the boutique market. We don’t have an LVMH or a Kering – we have lots of extraordinary independent brands. As a convening body, Walpole’s power to bring them together is incredibly important. At a time of great challenge, unity and knowing that you can win as a group is more important than ever. 

Our mission is to protect, promote and develop the business of luxury. Last year, the industry was valued at £81bn (€96bn). It will continue to develop but if we don’t work as an organisation, we can compromise that great growth trajectory. 

Politics really matters right now, so we have been focusing on the US tariffs – particularly in getting them reduced in the automotive sector.  We are also focused on what the government can do to mitigate the impact of those tariffs by getting tax-free shopping back so that we can compete with Europe by encouraging US customers to spend in the UK. 

Additionally, we hold events designed to feed the collective intelligence of this sector. We share with brands where the opportunities are, what the VICs are after and what the newest trends are.  

We also have a programme called Brands of Tomorrow that nurtures up-and-coming labels and creates an organic pipeline for growth. It has been 18 years since we began the programme and 150 brands have come through it, 90 per cent of which are still in business. We’re bucking the trend of early-stage failure. The enthusiasm for new names is where the UK can win. If you’re a sophisticated customer, finding something new and interesting that is also beautifully designed is a form of luxury.