Start a Fast Fashion Jewellery Business in the UK as a Foreigner in 2024

It is known that the UK hosts one of the most dynamic and world-famous fashion industries that grow in leaps and bounds. London emerges as one of the world’s fashion capitals.

According to the report of a British Fashion Council, the fashion market in the UK contributes more than £21 billion to the UK economy. Similarly, e-commerce development and demand for affordable fashion are other reasons contributing to the development of fast fashion jewellery in the UK. Thus, the scenario is pretty lucrative for the foreign investors aiming to establish a fast-fashion jewellery business. However, trading as a foreign national in this competitive market requires lots of planning, market analysis, and legalities.

This is where we have got you covered! Being a UK immigration law firm with over 15 years of experience, we have mapped out the important steps to set up a fast fashion jewellery business in the UK as a foreign national.

With the increasing growth of online retail in the UK, jewellery businesses get a wider market to sell their products. In this regard, the diversity of the population in the UK, and their peculiar tastes regarding jewellery is being perceived as a huge opportunity regarding the niches of entry into the country’s market.

However, this has recently shifted over the past years with everyone turning towards slow fashion and seeking ethically manufactured products, yet fast-fashion jewellery still exists.

• Personalised Jewellery: The demand for customised and personalised products is picking up speed. This can be the extra something that your business may offer to set it apart from others, offering customers choices in personalization.
• Affordable Luxury: The affordable luxury market is on the rise. For a more global appeal, quality and affordability should be well-balanced.
• E-commerce and Social Media: A strong virtual presence is important for reaching an audience from across the world. Invest in beautifully designed websites and engage with social media platforms where you can showcase your products and reach out to your customers.
• Vintage and Retro-Inspired Jewellery: There is a growing demand for vintage and retro-inspired jewellery pieces.
• Minimalist and Modern Designs: Simple, elegant designs with clean lines are always popular.
• Bold and Statement Pieces: For those who prefer eye-catching and dramatic jewellery.
• Ethnic and Cultural Jewellery: Catering to the UK’s multicultural population, offering jewellery inspired by different cultures and traditions can be a successful niche.

Detailed business plans often prove to be a great beginning of business ventures. Draw on a business plan that incorporates a vision statement, target customer, products to be sold, and price strategy of the brand. Determine if you will choose online marketplaces or sell your products through your own physical store or through other commercial outlets, or both. Also, distribution channel: consider whether you would make the jewellery yourself or purchase from other companies. If the products are to be imported, there are some costs and legal issues one should consider.

The UK comprises one of the largest markets in regard to online retail, as there were over 60 million online shoppers recorded in 2023, meaning that the online presence is of great significance to the company. Establish your target audience and your niche within the fast-fashion jewellery trade, considering market trends, consumer behaviour, and competitor analysis.

In order to trade legally in the UK, the business has to be registered with the Companies House and it has to adhere to all the necessary requirements and guidelines. For a foreign national, this could entail registering for a new limited company or creating a branch of an existing company. You also need to acquire relevant licences particularly for those who intend to sell the jewellery physically in shops and markets.

The UK’s fashion industry operates under several rules and laws especially concerning consumers’ protection, product safety, and advertising policy. To protect your business from legal repercussions that could prove devastating, compliance with the law is paramount.

As a foreign entrepreneur, you can choose from several visa categories to establish your business in the UK:

• UK Innovator Founder Visa: Suitable for entrepreneurs with a viable, scalable and innovative business idea. An endorsement by a UK endorsing body is a prerequisite for this category which could serve as a challenge.
• UK Expansion Worker Visa: If you have an existing overseas business and want to establish a branch or subsidiary in the UK, this visa allows you to do so. It requires a valid Certificate of Sponsorship from your overseas company and demonstrates your role in the UK expansion.
• UK Self Sponsorship Visa route: You can set up a UK company and obtain a sponsor licence, and then self-sponsor your visa under the Skilled Worker category. This is often the most preferred option for most business models.

Taking the help of a good UK immigration law firm will help smoothen the process of a visa application, as well as ensure all compliances related to immigration are met. At The SmartMove2UK Immigration Team, we provide complete legal support for foreign entrepreneurs to navigate through the complex UK immigration.

• Eligibility Assessment: Our seasoned immigration consultants will assess your qualifications, business plan, and financial resources to identify the most appropriate visa category for you.
• Document Preparation Support: Our documentation team will assist you in collecting and organizing all the required documents needed to strengthen your visa application.
• Visa Application Support: We provide comprehensive guidance throughout the application process, ensuring your submission is thorough and precise. This also includes preparation for any potential interviews.
• Ongoing Support: We will continue to support you post-arrival, providing guidance on business operations and navigating the UK business landscape.

When your business is set up, aim for gradual growth. Individuals working on a sponsor license should know that there can be quite frequent audits performed just to make sure they remain within the laws set up around them. You could even more so build on your brand by taking part in fashion shows and pop-up events to get more coverage.

Starting your business, you shall be able to consider regular assessment of the market and consumers to make necessary adjustments on available products for them to be able to respond to competitor and customer needs. Understand the legal and taxation framework in the UK as a business owner: this involves bookkeeping, preparation, and submission of the annual returns and corporation tax for the company.