How The U.K* Tax-Free Shopping Ban Upended London* Luxury Industry

Footfall is down, one Bond St. loyalist told Robb Report : “I went into YSL and my favorite sales associate told me she was leaving. But she’s not going to another boutique. She’s leaving retail because she can’t make money on commissions anymore.

Source: How the U.K’s Tax-Free Shopping Ban Upended London’s Luxury Industry – Robb Report

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Footfall is down, one Bond St. loyalist told Robb Report : “I went into YSL and my favorite sales associate told me she was leaving. But she’s not going to another boutique. She’s leaving retail because she can’t make money on commissions anymore.

It was a popular, populist gesture that caused few ripples among the public at the time. Now, three years later, that decision has had long-time, wide-ranging impacts on the economy, directly and indirectly—so much so that strong rumors suggest Jeremy Hunt, the current chancellor, will reinstate the freebie ...

Source: How the U.K’s Tax-Free Shopping Ban Upended London’s Luxury Industry – Robb Report