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    British Luxury Exports Sparkle


    by NTDTelevision

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    The luxury industry is worth nearly 10 billion US dollars to the UK economy. And traditional British brands like Boodles jewellers say sales remain strong at home and abroad. They're even looking to expand into new markets like the Far East.

    Sparkly, fashionable, designed and made in Britain.

    Boodles has been making jewellery in the UK for over 200 years.

    Michael Wainwright, the Managing Director, is the fifth generation to run this family business.

    Like many luxury brands - Boodles has continued to do well despite the tough economic climate.

    [Michael Wainwright, Managing Director of Boodles]:
    "London is very strong, both home market and overseas market. So there's two strings to our bow, but at the moment it's really, really buoyant at the top end."

    Boodles and other members of Walpole - the organisation which represents the British luxury industry - were showcasing their wares in central London.

    The luxury industry is worth £6 billion to the UK economy.

    And even at a time of strikes of public sector workers and spending cuts in Britain - Walpole Director John Ayton says sales are strong in London, although they have been slightly weaker in other parts of the country.

    [John Ayton, Walpole Director]:
    "Luxury has been remarkably resilient and I think that's been helped by the fact that one in four luxury purchases in London are made by visitors. London has been on something of a roll what with the Royal Wedding, and the Diamond Jubilee and the Olympics next year."

    But to ensure growth, firms don't just want to attract tourists to their British stores.

    They're looking to expand, especially into the Far East and Middle East.

    Boodles is about to open in Hong Kong - for the first time outside of Britain and Ireland.