I agree with the other poster, it's not going to be the state of the economy that will most affect the likelihood of success, but rather the retailiers. I can see you're going for a niche market, but these are served by some very professional multi-million pound businesses with a strong reputation/snob value in the business.
I would look very carefully at the competitors, their strengths and weaknesses and then decide if you can provide a USP (Unique Selling Proposition - not Selling Point as people often mistakenly state).
If you can see a gap in the market, then yeah go for it, otherwise look at other business ideas.
I've run my own business for a dozen years, it is at recessionary times the weakest fail leaving better future opportunities for those left in the game.
Good luck and if you go for it, get the backing of your family and some good advice - ideally from someone already running their own business. This ain't no 9 to 5 nor romantic journey, every day is for tough, but for me the only way I want to live my life.