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."
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