TK Maxx overtakes Topshop in UK despite Covid crisis
almost 5 years in The guardian
Bargain chain, which snaps up other retailers’ extra stock, takes sixth slot in British fashion market
It has quietly outgrown Topshop to become the UK’s sixth-largest fashion group. Now TK Maxx is hoping a glut of unsold clothing from rivals will further boost its fortunes.
The cut-price US-owned retail group sells an eclectic mix from a Moschino-collared jacket at £99.99, to a Gucci handbag at nearly £1,000 and Sloggi knickers at £2.99. It may only stock one or two pieces of each style or a few items of big-name beauty or homewares brands, but the low prices attached – the Gucci bag is £450 cheaper than its recommended retail price – are key to its appeal. Continue reading...
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