If French luxury is a giant machine, then the luxury business in England is more like a watch, ticking discreetly away. Remember David Ogilvy's famous description of a Rolls Royce? At 60 miles per hour, all you can hear is the ticking of the dashboard clock.

British luxury is all about artisans: shoemakers and shirt-makers, textile merchants and tailors. I was reminded of this the other day, when the textile merchants Holland & Sherry invited me to give a speech at a dinner for the Master Tailors' Benevolent Association. It's a charity that looks after retired tailors. «My tailor is rich,» is the first line of English that many French people learn – but it's not always true.

The next morning, I was given a tour of Savile Row, the street where some of the world's best tailors work. I found a sector in the throes of change. While some tailors remain decidedly retro, others have been given a 21st century makeover. Take Anderson & Sheppard, which is now owned by a young woman called Anda Rowland. Having formerly worked at Dior, she's applied her luxury marketing skills to a space that combines the best of bespoke tailoring – craft and personal service – with a relaxed elegance that is dust-free. The décor is perfectly pitched between modern and traditional, acknowledging that today's Savile Row must suit a new generation.

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