Negocio (Diario libre de informacion economica)
6 February 2009, page 32, Teresa Ruiz
(Translation by Pilar Sebastian, one of our Talking Image consultants)
The value of the pound sterling has significantly deteriorated during the past year. From February 2008, the euro has gone up 17% in relation to the British currency, so at the moment, the exchange rate today is 0.88 pounds to the euro. Conclusion: it is the ideal moment to escape on a shopping weekend to a city where traditionally, the clothes and accessories are classy, made to a very high quality, and the prices are extremely high.
"Many businessmen are making the most of this situation. I have just been to London 15 days ago and there are good discounts available, although I have not found any bargains. But it is true that when I was flying back, there were many passengers with lots of shopping bags.", Jose Polanco tells us. He is the Manager of the English brand, Hackett in Madrid.
"The most prestigious tailors in Savile Row, like Henry Poole and Davies & Son, will not reduce their prices because of the economic recession. However, even if there are no changes to the price, thanks to the Euro/Pound exchange rate, this is a fantastic time for Spanish people to shop in London", Toshiko Kobatake tells us, Director of Talking Image, an image consultancy based in the capital of England, offering services like personal shopping.
For ready-made suits, Toshiko Kobatake recommends the English brands, Burberry (21-23 New Bond Street) and Aquascutum (100 Regent Street) to get "the traditional look".
But what is a traditional 'British look'? "It is a stern style, so during the credit crunch, it is quite trendy" Jose Polanco from Hackett jokes. "The English gentleman is a natural classic." So if you can rescue a tweed jacket now, it is the best moment to get one.
Although the sales in London start earlier than Spain with better discounts, you can still find some items left in the sales. "It is in Oxford Street where you can feel the recession, but of course, this shopping area is for a very different type of client, for those who do not look for big firms". It is here where you can find from Zara to small tie shops, where maybe you can find some interesting items.
Jermyn Street is where you can find good quality shirts. In New & Lingwood, for instance, the sales is on at the moment, and the wealthy people in town appreciate the shoes sold there. And although they do not do the sales, maybe the good exchange rate will bring you to Hilditch & Key.
"It is one of the best shirt makers in the world. You can prove it just by looking at the clothes", Ramon Exerez tells us, owner of the shoe shop Exerez in Madrid, who distributes exclusively in Spain. The price of these shirts in Spain is around 140 euros. There, you can get one for 49 pounds (around 56 euros).
Going further, you can pay a visit to Savile Row, where you can find the best tailors in the world. There, you can not find large discounts and the prices generally are quite high. But the whole point is to maintain the look; high standard, wanting to be exclusive. You can find items ready made with some discounted.
At tailor, Gieves & Hawkes, they hold sales, and it is one of the oldest and the most traditional firms, established in 1771.
"We have some clients in London that come to Spain just for the day. For the same price of one suit tailored in London, they can get three suits tailor made here and pay the plane fare." Gonzalo Larrainzar, tailor for Juan Carlos I, King of Spain told us two years ago.
It is not just the mirror image; the current exchange rate makes tailor-made services much more accessible.
For booking appointments or enquiries, please contact Toshiko:
Tel: +44 (0)20 3489 3319
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