STORES PREPARE TO LOSE STUDENT SHOPPERSOwner of Lipsy, Lord Wolfson, has warned that young fashion is the most threatened category on the high street. He said, "16 to 22-year-olds were isolated from the credit crunch, but now they're feeling increased fees at universities and the realisation that the debt they're taking on is real." With the new tuition fees, it may be more difficult for stores to get students to part with their cash.
A high percentage of the high street is targeted at 16 to 22-year-olds.They all contribute to the overall £21 billion that fashion injects into the economy each year.
Wolfson says, "It does bring risk. We'll have to make bigger calls on fashion but it's one that we're prepared to take."
I will be on BBC Breakfast on Wednesday 21st September to discuss the new tuition fees. If you have any points you'd like me to make about the increase, please don't hesitate to comment. You can also email me at firstname.lastname@example.org .