U.K.’s Luxe Retailers Are on the Pound’s Roller-Coaster RideSterling’s journey since the shock Brexit decision is impacting high-end retailers in the U.K.

[Collection]London’s calling, but no one’s answering. While a stronger pound compared to the wild lows witnessed in the months following the shock Brexit decision will come as a sigh of relief to Britain’s embattled government, it won’t be seen as such a boon to U.K.-based retailers. Back in 2016, 17.4 million Britons voting to leave the European Union sent markets nosediving, the pound tumbling and fueled fears about the future of the U.K. economy. However, there was a surprise winner in those turbulent days — luxury British retailers, many of which saw a bounce in sales as droves of tourists descended on the U.K. to pick up a bargain thanks to the weak pound. Pricy handbags, clothes and watches became more affordable as the pound slid against the dollar to as low as $1.21 in January 2017, a whole 20 percent lower than before the crucial Brexit vote. It wasn’t just Americans benefiting, though, as some airports were exchanging one pound for less than a euro last summer, while weak sterling also attracted a lot of Chinese tourists, who sometimes shun the U.K. as it’s not part of the Schengen Agreement (they can travel to several countries on one visa, but the U.K. requires an

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