Figures revealed by Walpole show British luxury is now worth £48 billion to the British economy.
The Economic Impact Study, commissioned by Walpole and analysed by Frontier Economics, reports a growing luxury sector. Direct and indirect employment has grown 38% in four years to 156,000. 80% of production, or £38.5 billion in value terms, is destined for overseas markets. Overall the sector is growing 9.6% per year on average, thanks largely to the contribution of luxury automotive brands.
Reflecting this growth, in 2018 Rolls-Royce Motor Cars had their best year in their 115-year history. Helen Brockelbank, CEO of Walpole travelled to The Goodwood Estate to speak with Richard Carter, Director of Global Communications at Rolls-Royce to learn first-hand of this success.
Their conversation formed the basis of a short film we produced to help launch the report. This longer video was complimented by a square, sub-60 second version for Instagram.
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