How Topshop went from the hottest new label in Australian to a fast fashion failure?

Описание: failure?
ONCE the epitome of cool, Topshop is the latest fashion brand to fall victim to Australia’s tough retail market.
The high-street chain, along with menswear label Topman, has gone into voluntary administration after failing to arrest its slide into multi-million dollar loss-making territory.
It joins a long list of troubled retailers with Herringbone, Marcs, David Lawrence, Pumpkin Patch and Payless Shoes all folding in the past 12 months.
There is talk of Topshop’s parent company chairman, Britain’s so-called “king of high street” Sir Philip Green, swooping in to save the Australian operation. But there are no guarantees for the 760 workers whose fates hang in the balance.
The brand’s struggle has been interpreted as a worrying sign for the local retail industry given the collapse of a string of Australian fashion brands has been blamed on competition from overseas fast fashion giants.
If the British-born label that took Australia by storm almost six years ago with Kate Moss as its brand ambassador — and which turns over $90 million a year — can’t make it here, then what hope is there for local retailers?
But while the news may have come as a shock to some, retail analyst Peter Ryan says he saw it coming.
“The whole Topshop thing I never thought would work here,” Mr Ryan told news.com.au, dismissing its wares as “cheap clothing that really traded off its London cool”.
He said the label’s appeal was at its peak when Topshop opened its first Australian store on Melbourne’s Chapel St “with great fanfare” in 2011.
At the time, Hilton Seskin — who brought the brand Down Under — described it as Topshop’s most successful franchise opening ever. By the time its Sydney store opened the following year, young fashionistas were queuing around the block to get a first peak......
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How Topshop went from the hottest new label to hit Australian shores to a fast fashion failure?
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