WHY THE WEST COAST, USA IS THE PLACE FOR BRITISH BRANDS TO BE?
Gennaro Pisapia (BA, Dip DigM, CSP-SM)
Agile Project Manager & wellbeing coach using heart intelligence to unlock unknowns & add value for teams, products, & businesses. Driven by connection, growth, delivery, moments & the details.
www.sourcebritish.com
THE WEST COAST, USA.
The West Coast has the largest territorial expanses in the US; consisting of six states that include California, Nevada, Alaska, Oregon, Washington and Hawaii. California alone has the largest population in the US reaching over 38 million people. The West Coast is home to major businesses and includes the well-known Silicon Valley in San Francisco, the nucleus of the tech industry where Facebook, Google and Apple have their headquarters. The West Coast boasts a strong economic output. The 2015 GDP of California alone was $2.228 trillion, and when compared to the 2015 GDP of the UK $2.849 trillion, it shows California as a significant opportunity for market entry.
US customers love British brands, culture, products and services, and this stems from a long history of adoration for Brand Britain. The perception of traditional or contemporary British brands globally embodies the highest quality, elaborate stories, detailed hand craftsmanship, and a tradition past through decades of family secrets.
The West Coast is experiencing major growth as a whole, across housing, healthcare and infrastructure. It is said that the West Coast is producing twice as many jobs at this stage in its expanding industries of manufacturing, technology, finance and now fashion. This includes apparel, jewellery, accessories, crafts, footwear and home. The West Coast is the gatekeeper for international trade, with major ports in California, Oregon and Washington.
The West Coast has a laid back entrepreneurial attitude, while the East Coast has a fast-paced get it done assertiveness. In the East Coast, you will find finance and banking firms, and in the West Coast technological innovation business. Both make significant contributions to the US economy and are both seeing an overall increase in consumer spending in 2016.
LOS ANGELES THE WORLD'S NEXT FASHION CAPITAL.
Los Angeles has gained traction on the world’s runway as the next fashion capital. Fashion is not the only boom happening in LA, the crafts, jewellery, and home industries are growing at a fast pace. If California was its own country it would be the 6th largest economy in the world! This scope for investment, growth and freedom is why Source British has launched in LA. Away from the saturated New York fashion scene, LA really gives designers the chance to stand out and with 97% of buyers stating they want to see British brands it’s clear we’re delivering what the market wants. In a recent survey from the California Market Center to its database, over 50% were interested in stocking British Brands.
“Los Angeles continues to be a hot spot for both fashion royalty as well as all up and coming designers. There is a laid back quality that opens the creative process, there is not that rush that happens in NY and other major fashion capitals,” says Mitchell Kass, Owner & Creative Director of Trend Council. “European designers have recently been popping up in LA for inspiration with LA street culture influencing their work. There is hope that West Coast designers will form their own fashion week and become another fashion capital. British brands are a perfect fit for this arena as US buyers come specifically to LA buy into new brands they know they will not see in New York.”
TOP REASONS WHY THE WEST COAST IS THE BEST PLACE TO LAUNCH YOUR BUSINESS:
- The economy of California is the largest in the United States and would be the 6th largest economy in the world if it was its own country.
- The West Coast is the gatekeeper for international trade, with major ports in California
- Owning a small market share in one of the regions of the West Coast will achieve huge sales growth.
- Brand Britain’s cultural association with Americans is highly sought after.
- 97% of the buyers from the California Market Center are interested in attending a dedicated British sourcing event.
THE EFFECTS OF BREXIT ON EXPORTING TO THE US.
While the confidence may have dipped post BREXIT news, the trade relationship between the UK and the US remains strong. In the November 2016 West trading and exporting report from Barclays, the US still remains a key export destination for UK brands, and it 2015 a total of ￡45.3bn worth of goods were exported to the west. “Even after the announcement of BREXIT the US buyers want to trade in sterling as the rates are more in their favour, this is a great benefit for businesses wanting to export to the US. They want British brands with provenance and a strong brand story” says Olivett Asare, Event Director.