At the 2008 Walpole Awards for Excellence in British Luxury last night, fashion icon Dame Vivienne Westwood urged UK companies to strive for "quality not quantity" in today's difficult climate.

Westwood, who spoke after receiving this year's Medal of Excellence for her contribution to British design, said in order for companies to survive the financial downturn, they must look to sustain the caliber of their product, rather than aim for growth.