Even just a few years back John Lewis was launching well-branded fashion lines AND/OR and Kin – to great fashion industry acclaim – and high streets were filled with UK fashion brands with their finger on the pulse. The UK owned fashion.

Fast-forward to today and what do we see? M&S’s value appears largely based on its food business. Topshop in NY is shuttered and Arcadia’s profits have slumped from £119m in 2017 to a loss of £137m in 2018.