Table of Contents
- Why don’t Labor politicians look better after accepting money to buy clothes?
- Angela Rayner has a knack for looking like she’s about to have a pint.
- Business leaders could also be great ambassadors of the British way
Best Step Up: Angela Rayner has the ability to look like she’s about to have a pint at the Dog and Duck.
An obvious question in Labour’s dispute over money for fashion remains unasked. Why, when top Labor politicians have received so much money from donors to buy new clothes, don’t they look a little better?
The Chancellor’s suits are professional, but too rigid and boxy.
Rachel Reeves is at least smarter than Angela Rayner, who has a knack for looking like she’s about to have a pint at the Dog and Duck, no matter how expensive a whip she wears. Sir Keir Starmer looks bored, despite the designer’s specifications.
Many of you will think this is trivial: what matters is how you perform, not what you wear. Quite right, in theory.
In practice, what we wear at work matters a lot. Our clothing sends messages, some of which we intend and some of which we don’t, about our status, our competence, our self-image, and much more. Covid wreaked havoc on the little sense of how to dress at work that many of us had. While working from home, many of us gratefully changed into pajamas and tracksuits, perhaps throwing on a jacket to go on Zoom.
For me, it’s a relief that retailers are reporting this fall about a return to smart attire for women at work. The pencil skirt is making a comeback and apparently #officesiren is back in fashion.
Many men, however, have not returned to the suit and tie. Post-Covid, it is very likely that even some very important male CEOs will show up to photo shoots for a media profile without a tie or even in a comfortable sweater. I blame the jeans and hoodies tech brigade for this unedifying trend. Casual may be de rigueur in the maverick world of technology, but in conventional corporate life, executives are older.
Why go around looking like the grandfather in the original Werther ad when you should look like a power broker?
Business leaders, like politicians, are visible on the global stage and could be great ambassadors of the British way.
It would be wonderful to see more bosses like Dame Emma Walmsley, chief executive of pharmaceutical company GSK, who always looks stunning and is a consummate professional.
The textile and fashion industry is a major force in the economy, contributing £62bn to GDP, supporting 1.2m jobs and generating over £23bn in tax revenue, according to a UKFT report. The fortunes of listed companies are mixed, with Burberry, in the luxury segment, suffering a particularly painful fall.
But it is encouraging to see that two of our major fashion retailers are doing very well. The prices are affordable, so politicians might even consider buying some clothes themselves and supporting a local industry.
My colleagues and I have written in detail about how M&S has set out to revitalize its womenswear. Investors have been rewarded with its shares rising nearly 65 percent over the past 12 months.
Next, one of the best-run FTSE 100 companies in any sector may not get all the credit it deserves because it is in the rag trade and not a more “serious” industry like defense or engineering. Its shares rose 42 per cent last year, it is on track to make £1bn of profits and has its sights set on conquering overseas markets.
Dressing elegantly never goes out of style, and neither does making good economic profits.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Fixed fee investing from £4.99 per month
sax
sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.