Brexit fears prompt Lush to expand overseas

Popular British cosmetics firm Lush is currently looking for investment opportunities overseas due to the uncertainties over Brexit.

The Dorset-based company, specialising in natural handmade cosmetics and toiletries, recently opened a factory in Germany. According to a BBC report, around 80 employees based in Britain have accepted the firm's offer to move to Dusseldorf.

In a statement, Lush highlighted uncertainties involved in the formation of new trade agreements as the UK prepares to depart from the single market, potentially hindering investment opportunities within the country.

"Severe skill shortages" within the UK have been stated as another key reason.

"To date Lush has flourished from the freedom of movement of people and goods, and now we face uncertainty in both of these areas. The negotiation of new trade agreements could take years, but the risk is that we will be paying more import duties across the business. "

"With Britain close to full employment and with a severe skills shortage we are concerned that restrictions on free movement of people will impact the availability of both the skilled and the unskilled restricting future growth in both our UK manufacturing and buying facilities."

At present, Lush has 931 stores operating in 49 countries.