Over the last couple of weeks I've been in the company of makers of luxury goods who, despite being based in the UK, see many of their products produced elsewhere. Every time they have been questioned on this, along the lines of, "do they wish that all of their products were made in the UK" they have had a similar answer. "Yes it would be nice" and "For bespoke products, where the customer did not mind paying a premium , this was still an option.", "It's a conversation about quality and style not where is it made." However, at no time were their answers defensive - their manufacturing choices (although often they are sourcing materials from the UK) were based on cost and ensuring the desired quality was achieved. Indeed they were sanguine about the situation and referenced the fact that the target consumer (who in many cases is very global) is not driven by a "Made in...." label.
It's about design, it's about quality control, it's about the values and ethics inherent in the product. It's about the equity which has been built up in the brand but what it's not about (with the exception of a food or drink based appellation) is where the product is actually made. Apple with their "Designed by Apple in California. Assembled in China" have typified this approach.
So an off-the-peg suit can be made from British wool, designed by a designer based in London, tailored into reality in a workshop in England but actually manufactured elsewhere. That protects margins and achieves a price point which is competitive.
Manufacturing will ebb and flow depending on the realities of the cost of labour. It's the other parts of the process that countries and regions need to hang onto tightly.