Fashion
Tax hikes eclipse other key budget announcements in UK
The United Kingdom has been facing steady inflation, a slack economy and a budget deficit.
In her second annual budget, UK Finance Minister Rachel Reeves yesterday sought to alleviate the impact of cost-of-living crisis by raising public investments, reducing energy bills and extending fuel duty cut, but the tax hikes eclipsed other key announcements.
Two Artificial Intelligence Growth Zones will be established in North Wales and South Wales, creating close to 8,500 jobs.
The Chancellor said too many families are still struggling with the cost of living, which is why the budget included a range of measures to cut bills and boost pay packets, according to an official release.
He announced a £150 household energy bill saving, a fuel duty freeze and hikes in national minimum and living wages.
Changes to the Welsh government fiscal framework will mean that government has an extra £425 million spending power over the next few years.
Reeves announced reforms to modernise the tax system, asking those with broader shoulders to contribute more through long-overdue fair reforms.
An Artificial Intelligence (AI) Growth Zone will be established in North Wales with an investment of £5 million, creating 3,450 jobs, she announced. A similar zone in South Wales will create more than 5,000 jobs over the next decade.
The Youth Guarantee package announced will include ensuring that every eligible 18-to-21-year-old who has been on Universal Credit and looking for work for 18 months in Great Britain will get a six-month paid work placement.
Responding to the Chancellor’s Budget statement, Shevaun Haviland, director general of the British Chambers of Commerce said: “The Chancellor has listened to our calls and made the right choice by not piling major new tax rises on businesses’ shoulders, which will calm nerves. Firms will be pleased to see the commitment to transport and infrastructure, and critically the funding for planners the BCC has called for. It is now vital that the Government delivers on these promises.
“Business will welcome support for youth employment, stamp duty relief, protection for capital spending, a reduction in business rates multipliers and some investment tax breaks. They will be worried about salary sacrifice changes, mandatory wage increases, and retention of the energy profits levy, which will maintain cost pressures.
“Alongside this, we have seen UK-wide business support funding of almost £1bn axed and replaced with a system of piecemeal support which favours select urban regions. That risks further regional inequality and damage to rural economies. While most businesses will weather this new financial landscape, they are still being squeezed by rising costs. Many will be disappointed that this Budget did not provide a more compelling blueprint to deliver transformational growth.”
Fibre2Fashion News Desk (DS)
Published
January 15, 2026
Designer Soshi Otsuki won himself a huge ovation at the key gala show of Pitti Uomo on Thursday after presenting a brilliant collection that celebrated classic western tailoring, even as it subverted its codes.
A tour de force of draping, cutting, and silhouette, this fall 2026 collection from his brand Soshiotsuki was definitely a major fashion statement.
In a moment of volume in menswear, Otsuki opened the action with a perfectly judged trio of to-die-for double-breasted suits with peak lapels in crepe and fine wool in various shades of grey- cement, mud, or dove.
He cut his jackets to end well below the hip and his trousers were something else. Made with a half-dozen front pleats, they were elephantine but never outrageous. Otsuki is such a great natural tailor, the exaggeration merely added to the elegance.
Soshi is no slouch when it comes to leather either. From his copper-hued leather rock god suit to his cocoon style leather bomber jacket. And, just when you thought he was playing a little too safe, he sent out some fab jeans, so degraded they almost looked moth-eaten. Tokyo street style meets sartorial Italian.
Playing on couture techniques, the designer also whipped up several bias-cut green corduroy blazers and suits marrying Japanese eccentricity and British aplomb.
The show was the latest Italian/Japanese marriage at this edition of Pitti that began with a Sebiro Sanpo tailoring association Japanese suit march inside the Fortezza da Basso, the giant fortress where the salon is staged. Remarkably, Otsuki has never actually studied suiting formally, but he somehow understands it instinctively.
The soundtrack, culled from composer Joe Hisaishi’s soundtrack to Takeshi Kitano’s 2000 gangster movie Brother, featured a beautifully yearning saxophone solo. It would have felt just right for one of Douglas Sirk’s 1950s melodramas starring Rock Hudson. One almost expected Rock to take the final passage.
Presented inside the beautiful Refetterio Santa Maria della Novella, a looming Gothic refectory at the back of the legendary Renaissance Basilica, this was a bravura display.
Altogether, a bases loaded, home run, smash hit collection. One could say it felt like a star is born moment in menswear, except that Soshi Otsuki was already acclaimed. He is the latest winner of the LVMH Prize.
Talk about backing up winning an award with a great fashion statement.
Copyright © 2026 FashionNetwork.com All rights reserved.
Published
January 15, 2026
Luxury skincare brand Genaura has promoted Nicola Young to managing director, moving up from chief marketing officer following the brand’s product launch to market in September.
Young’s promotion is underscored by “an impressive career”, which has included senior positions at Carlton Screen Advertising, marketing director at Jazz FM and Magic 105.4FM, and group director of Marketing at radio conglomerate Global Player.
Most notably, her beauty industry involvement included director of Media UK at Estée Lauder Co.
Young said the launch of Genaura “has the potential to revolutionise the beauty and wellness sector… my experience in this field has helped drive the marketing vision so far, and I look forward to progressing even further”.
She added: “Looking to… the growth of Genaura, I am excited to scale and innovate whilst remaining authentic to the scientific background of the product, planning global recognition of this revolutionary ingredient exclusive to Genaura.”
Available in the UK currently, the business has “aspirations for 2026 and beyond… extending skincare products within the range.”
Genaura claims to be a “world first in skincare”, with its Genaura Levagen + Smart Face serum “boasting a powerhouse formula alongside patented technology… creating an ‘age-proofing’ approach to the skin and supporting the skin’s natural barrier function”.
Copyright © 2026 FashionNetwork.com All rights reserved.
One of India’s leading integrated home textile manufacturers, is strengthening its presence in Europe as it showcases its latest collections at Heimtextil 2026, the world’s largest trade fair for home and contract textiles, being held in Messe’ Frankfurt from January 13–16, 2026. The participation underlines Trident’s focus on expanding its European footprint amid improving trade prospects driven by proposed Free Trade Agreements (FTAs between India, the UK and the European Union)
Trident is strengthening its European presence by showcasing its TG ‘Visible Invisible’ collection at Heimtextil 2026, highlighting sustainability, AI and design-led innovation.
Backed by proposed India-UK-EU FTAs and new Directors in Germany and France, the company is deepening ties with European retailers and gaining strong buyer interest.
At Heimtextil, Trident is presenting its TG collection, built around the theme “Visible Invisible”, which brings together contemporary design, sustainability and innovation. The showcase highlights how everyday home textiles are shaped by thoughtful design choices, responsible sourcing and advanced manufacturing, aligned with the evolving expectations of European consumers. This year at Heimtextil – sustainability and AI in Home Textile would be in focus.
Commenting on the company’s European strategy, Abhishek Gupta CEO Strategy & Marketing Trident Group, said, “Europe is a strategic market for our home textiles business. With favourable trade developments on the horizon, we are investing in local leadership and showcasing collections that reflect European preferences for sustainability, quality and design. Our participation at Heimtextil reinforces our commitment to long-term growth in the region.” He furthered “Europe continues to be a key market for Trident, supported by mature retail ecosystems, growing demand for sustainable products and increasing diversification of sourcing. The global home textiles market is estimated at USD 136–140 billion, with steady growth expected over the coming years. Against this backdrop, Trident is positioning itself to deepen partnerships with European retailers and scale its business responsibly”.
To support this expansion, Trident has strengthened its local presence with the appointing of dedicated Directors for Germany and France, enabling closer engagement with customers, faster response times and stronger on-ground relationships across key markets.
Trident’s Heimtextil showcase draws inspiration from Indian aesthetics and modern global trends, translating emotions such as comfort, joy and strength into bath and bed linen collections. The TG range features responsibly sourced cotton, performance-led finishes and contemporary colour palettes, and has received encouraging interest from buyers across Germany, France, the UK and other European markets during the fair
With favourable trade tailwinds, a strong design-led offering at Heimtextil, and enhanced European leadership, Trident is well placed to accelerate its growth journey in the European home textiles market.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
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