2018 was not a vintage year for fashion. The crisis-hit House of Fraser and an embattled Marks & Spencer made headlines, as did a rising tally of planned store closures, and accompanying job losses, deemed necessary in a turnaround plan for New Look. The Orla Kiely brand, famed for its geometric prints, went into liquidation in September, while Dolce & Gabbana ends the year under serious pressure, having been dropped by important retailers after a racism scandal shipwrecked a fashion show planned in China.
This decade has seen the young shoppers who are Topshop’s key market moving from bricks-and-mortar shopping, a field in which Topshop was dominant, to online, in which it faced stiff competition from new and nimble, social media-savvy, price-competitive brands such as Boohoo and Missguided.
Boohoo Group PLC (LON:BOO) operates as an online fashion retailer in the United Kingdom, rest of Europe, the United States, and internationally. The company also provides its products under the boohoo, boohooMAN, PrettyLittleThing, and Nasty Gal brand names.
