Topshop is a UK-based retailer, founded in 1964 by Peter Robinson. The first stand-alone Topshop store opened in 1970. In the 1990’s, the mainstream media considered it unfashionable, cleverly labelling it ‘Flopshop’ due to its relatively low varieties and simple designs. But it recently turned business around, even hitting profitability in 2008 when almost every retailer was in the red by expanding its collections and bringing in local designers to the foray. Currently 75% is owned by entrepreneur Sir Philip Green who is the founder of the Arcadia Group after Leonard Green & Partners purchased a 25% stake in Topshop for a reported sum of US$805 million. The Topshop brand in Singapore is being distributed under Wing Tai Holdings, Singapore’s leading property developer and Lifestyle Company. Topshop operates on an incredibly fast product cycle, manufacturing and designing new products for every season. Furthermore, Topshop produces various products such as clothes, accessories, shoes and cosmetics for women. As of today, Topshop currently has 440 outlets in 37 different countries with 9 of the outlets located in Singapore, pushing itself to be innovative and loud with its creative products and unique designs.
Between both genders, Topshop tailors its collection for females due to them generally accessorizing themselves more than males as they tend to ‘mix-match’ clothes they possess with accessories and vice versa. This makes females more prone to buying clothes in a larger quantity compared to males, resulting in Topshop’s decision to cater to the feminine gender as it would result in a larger profit margin compared to just catering for males. Hence, a ‘sister’ brand in the form of Topman is available to cater to the male market. -Age
Females between the ages of 21 to 26 years old belong to a bracket of adults who experiment with fashion and are brave enough to be risqué. Thus, it becomes more of a desire to dress well rather than just a simple need for them to wear clothes, as compared to women in an older age group. After all, spending power comes into play when females reach that young adult age group but wanting to splurge on clothes is where it stops with these young females as older women tend to tone down their bold dressing when the interest wears off, resulting in them not wanting to be as care free in spending for clothes. This in turn would make Topshop and young female adults a great match for each other instead of the pairing of the older female market and Topshop.
The market we're catering to are young female extroverts who express themselves through fashion. These young adults have the tendency to want to keep up to date with the current fashion trends and are bold enough to want to try new, fun and an eccentric range of products. They tend not to fancy the ‘t-shirt and jeans’ look, instead styling themselves with different layers of clothing and accessories. It also lines itself with our ever changing and ever growing collection of dresses, tops, shoes and accessories. This is partly due to rising expectations of how one upholds themselves in the eyes of others through their dressing and aiming to project the impression that they have interesting, lively and fun personalities. Thus making them more prone to succumb to the pressure to dress well, dress appropriately and dress fashionably, making Topshop's regular release of seasonal collections appealing to them. Being fashion-savvy and being trendy are important qualities Topshop looks for in their targeted demographic. These young women have their own images to uphold with the fashion sense and lifestyle they lead, such as having social events with their acquaintances or heading out to trendy nightclubs. The need for these trendy women to be fashionably 'on the ball' becomes one of their priorities. By...
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