No matter what side of the Brexit tribe you are on at least I can point to one thing we can all agree on – we are all sick to death of it.
Someone was saying to me it was just like supporting your football team, but it isn’t at all. There is no joy in talking about Brexit like-minded or not. In fact, my eyes are stinging with boiling tears as I am writing this.
What is the effect of Brexit on an eyewear business, be it the optician or humble spectacle designer? We all know about car companies and their supply chains. We know that tomatoes might be off the menu for a few months. We know that no one will be picking our English Cox apples next season, but what are the issues Brexit will throw up to opticians and exporters of eyewear?
Although I’ve got five stores of my own now, I know I’m not quite a typical optician. I am my own supplier out of my London factory for a start. But what about the cost of lenses I’m buying from Zeiss. So far, they are absorbing the currency difference since the pound’s slide, but for how long? What about the frame companies which stock most of the UK’s opticians? At some point soon, everything must have to cost more. If you are buying frames in dollars or euros, the currency difference will take a huge chunk of your margin alone, so that means price rises for your customers.
Then there is the issue of importing frames. Lenses are less of an issue, due to extensive UK based operations with all the major players. My guess is that smaller independent frame companies in Europe will not want to open a UK company just to make it easier for the UK opticians to buy from them. Have you been advised on the mechanisms you will need to employ to import this product? I can tell you my customers in Europe have already been told what a pain in the a** it will be to buy anything from me.
I will have to hope that all 600 of my European opticians customers will happily and willingly set themselves up as importers (it won’t happen) or I will have to open a company in Europe to distribute through. This all feels rather self-defeating, since now I will have to pay extra taxes in Europe.
I also know that across Europe, brand Britain has been damaged. Opticians and customers in France or Italy faced with a choice between a frame company in good old Blighty and one in Austria will have an easy decision. I’m afraid we’ve slipped down the pecking order for now.
But wait, it’s not all doom and gloom. I’d like to say I had some clairvoyance when I decided to start a factory in London. My UK business has thrived these past three years. I think that will only increase more next year because of Brexit. Also, Donald Trump, my unlikely hero, is talking up a nice free trade deal. This will make things much easier and profitable for me to export to America, now that I’m manufacturing in the UK. Besides, customers in America have always loved British brands, they will probably love us even more soon if we build closer links. Finally, sterling’s weakness might be bad news for your holiday but it’s great for my margin.
You see, as long as you look at things positively, it all feels slightly less horrible. No matter what happens with Brexit I have come to the conclusion that actually everything will be OK in the end. Like I said, everyone is fed up with all this negativity. So, things will cost a bit more – oh well! Trade barriers will sort themselves out and the population will all remember how to get on with each other again.
So for now, my suggestion is to keep calm, carry on and try not to think about b******, b****** Brexit!