Market Analysis of Topshop

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  • Topic: 2008, Fashion, Vogue
  • Pages : 2 (372 words )
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  • Published : November 22, 2008
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Market
Responding quickly to emerging trends has been a key
success factor for retailers such as Topshop, which has
carved out a reputation for its ability to pre-empt the
latest catwalk styles at affordable prices and with the
shortest possible lead times.
The UK market for women’s clothing is forecast to grow
by almost 10% between 2003 and 2008 to reach a value
of nearly £12.8 billion.Tops will remain the largest sector contributing a value of £2.9 billion by the year 2008,
accounting for almost 23% of value sector share (Source:
Euromonitor)
Achievements
Topshop has undergone a transformation since the mid
1990s, blossoming from a ‘cheap and cheerful’ store for the nation’s teenagers to a seriously cool, trendsetting brand. It has become a high street retail phenomenon,
enjoying a huge growth in sales and creating a distinctive
personality with an individual brand mix. It continues to
headline in nearly every fashion title and broadsheet,
establishing a reputation for bringing innovation and style
to the high street.
While many other retailers belatedly copy the latest
look,Topshop frequently sets trends of its own.Topshop
has received numerous accolades in recent years –
fashion bible Vogue wrote:“Topshop has become the
favourite label of the moment among the fashion pack
and the entire staff of Vogue checks in almost daily for
new deliveries”, while The Times declared: “it’s now a fashion faux-pas not to go there.”
Topshop has become a multi-award-winning brand,
carrying off numerous industry gongs. Most recently, it
won Customer Service Initiative of the Year for its new
Topshop To Go service at the Retail Week Awards 2005.
The past year has also seen it win awards from magazines
including Company, In Style and Time Out.
The driving force behind the transformation of Topshop
is the team led by brand director Jane Shepherdson,
who has been rated as one of the fashion industry’s most
influential figures.As well as the...
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