Walpole Awards 2025: How British craft is finding new relevance

Last night’s Walpole British Luxury Awards, held at The Dorchester, London, provided a reminder of the U.K.’s enduring position in a rapidly rebalancing global luxury economy. As geopolitics and shifting wealth patterns reshape the industry, Britain finds itself upholding its reputation as a heritage powerhouse — even as much of the new wealth is being created in Asia. Despite domestic challenges from tariffs, taxation, and policy uncertainty, Britain’s $103 billion luxury sector is proving resilient. Attended by industry players from luxury law firm Mischon de Reya to Aston Martin, and hosted by actor Omari Douglas, with guests including Cush Jumbo, the awards celebrated a sector built on heritage but increasingly powered by global connectivity. Luxury alcohol and cultural collaboration Kent-based sparkling wine producer Gusbourne was crowned British Luxury Brand of the Year, illustrating a growing appetite for luxury alcohol. Once dismissed as an upstart, Gusbourne now exports to 37 markets including newly added mainland China, where a taste for authentic provenance and understated exclusivity is growing. China’s draft Five-Year Plan places “quality consumption” and “cultural value” at the forefront of its national development strategy, creating a potential bridge between its rising affluence and British craftsmanship. According to migration-data summaries, roughly 13,000 to 15,000 high-net-worth Chinese individuals reportedly left China in 2023/24, making it one of the largest source-countries of wealth out-flows. The U.K. remains a magnet among those for its luxury ecosystem. In fact, back in 2018, Chinese parents spent more than 2.5 billion British pounds ($2.5 billion) on London property for their children studying in the capital, a figure that reveals how education, real estate, and luxury consumption are intertwined. The Walpole Awards underscored how deeply luxury and national identity are intertwined. Winners like Swaine, whose handmade hats and umbrellas have graced Hollywood icons for 275 years, and Hamilton & Inches, the Edinburgh jeweller known for crafting with rare Scottish gold, are widely recognized as custodians of culture. For Chinese consumers who prize provenance and authenticity — especially those already buying British education and property — this kind of craftsmanship is an obvious fit. Cultural diplomacy remains Britain’s most potent export tool. Collaborations like Highgrove by Sanderson, which channels proceeds to The King’s Foundation, and the Royal Ballet and Opera’s Wolf Award for Future Legacy, demonstrate how luxury intersects with art and philanthropy. International relations As the U.K. and China navigate complex political and trade landscapes, their luxury relationship continues to deepen at a consumer level. The Walpole Awards reflected optimism in an era of transformation. For British luxury to thrive, policymakers must nurture the country’s international magnetism, through creative education, visa flexibility, and trade access, especially as China and India expand rapidly. India’s luxury market is projected to reach about $12 billion by 2025 and could triple by 2030 as UHNW numbers rise. The imminent U.K.–India Free Trade Agreement is set to open new pathways for British craftsmanship, from heritage design and fine food to automotive and whisky. At the same time, Walpole notes in the event press release how opportunities in China are re-emerging. The country’s Five-Year Plan draft emphasizes “quality consumption” and cultural sophistication, a clear signal that demand for authentic, well-crafted products is likely to rebound. For British brands, this aligns with their traditional strengths of heritage, craft, and provenance. As Walpole states, “There is also scope to grow [the current] 6.1 billion British pounds ($7.75 billion) exports to China’s resurgent luxury market, as its new Five-Year Plan places new focus on cultural value, craftsmanship, and quality consumption.”

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Walpole Awards 2025: How British craft is finding new relevance