Are the wheels coming off at Topman? From zero to hero, Topman is the poster boy of how brands, thanks to fashion and the sponsorship of fashion weeks, can go from uncool to cool in little over a decade, but, has their run of dominance on the men’s high-street come to an end?
Topman recently had a clear out of the top brass and creative. Gordon Richardson, who served as Topman's head designer for the past 17 years, has been pushed out along with many others within the Arcadia group. This is usually a sign of trying to stop the rot and starting something new.
Left - Will you be buying your tracksuit from Topman this season?
Taveta Investments, Arcadia’s parent company, doesn't break out individual figures for their brands, but financial figures released in June 2017 showed a 16 per cent drop in profits for the year to August 2016. Taveta Investments, indicated that annual profits plummeted to £211 million, while sales dropped 2.5 per cent to just over £2 billion. Taveta Investments, derived £1.7bn of revenue from the UK in 2016. That marked a fall from £2.2bn a year earlier, although up to £370m of that related to discontinued operations such as BHS, which was sold in 2015.
That’s a huge drop of £500 million or £130 million, if you take out BHS. That’s still a lot of clothes not sold.
So, what do we think has happened at Topman? Is it a case of these runs can’t go on forever and or is it something more serious?
One things for certain, it’s much more competitive than when Topman started out on its journey. Whether selling fashion or basics, there is much more choice, both offline and online.
Did they over expand? We know that Australia has struggled, with their franchise partner going into receivership recently, and the big push into America hasn’t really stuck as they don't seem to understand how fashionable us Brits are. American teens, in many cities, have nowhere to wear this kind of stuff.
Right - Has Topman peaked and how can they get their spark back?
Did it get too expensive? With labels like ‘Topman Design’ pushing the upper price points there is a perception that Topman was expensive, especially when compared to other high-street retailers. I’ve spoken to mums of teenage boys who say they leave Topman until last on a shopping trip as it’s usually the more expensive.
Topman’s buyers never committed to ‘Topman Design’. We had the shows, we had the collections, but when it hit the stores or online it was very bitty. They’d only make the trousers of a suit, for example, or items that didn’t really go with each other and the pricing was into three figures.
I think Topman has fallen into that gap of not being fashionable enough and not being cheap enough on basics and is falling into the void in the middle. They’ve lost the energy to ASOS, Boohoo and New Look.
I think there was a case of Topman believing their own hype too. You can’t afford to be arrogant in fashion and thinking you’re the coolest kid on the block, because things move fast and this will quickly bite you on the arse. The campaigns were a little too editorial and not relatable enough.
Fashions have changed too. Topman practically owned the skinny, three-piece suit and was selling volumes of a more expensive product. Now, the kids want sportswear and retro looking basics. It’s not the go-to place anymore. It’s lost its USP.
What are they doing? They’ve hired David Hagglund, known within fashion circles for founding a Stockholm-based creative agency which includes H&M and Hugo Boss as clients. He was also art director at Vogue Paris. David Hagglund is replacing Ms Phelan - Topshop head creative - and Mr Richardson in a 'newly created position' of creative director across both Topman and Topshop. Is combining Topman and Topshop a good idea? Or is this further cost cutting? It’s interesting they’ve given this important job to an Art Director type and it’ll be interesting to see whether Topman will get as much focus as Topshop. I doubt it.
The danger is, as they wobble they go safer, which is the wrong direction. Admittedly, Australia is having problems and America isn’t as fashionable as Europe, but young men want fashion and know it. Brands like ASOS and Boohoo are really pushing it, New Look has got a hell of a lot better and newness is the drug on the high-street.
Topman Design became a bit formulaic and they need to commit to it or scrap it. I think they’re going to find it hard to get that spark back. It’s very hard to do when you’ve lost it, but they’ve done it once before, so why not again.
There’s the juxtaposition between men’s basic and fashion led clothing. Basics are so competitive and difficult to make money from unless you’re doing huge volumes and buying basics from Topman is, well, a bit basic. Maybe they should leave that to Primark and Uniqlo and stick to making fashion.
I think they need to think more inclusive and not try to be too cool without losing the trends. Look what happened to American Apparel when they tried that achingly cool model. You need to be the coolest of the mainstream and, especially in Britain, have fun with it.
I think what we’ll see is, as leases run out, stores will close and they’ll be a renewed focus and growth of online. Topman needs to tighten up its collection and re-educate guys about what they do. As fashion cycles move, they need to aim for a new USP and focus on that. You can't be all things to all people today.
Note - A friend just mentioned on Facebook about the 'Philip Green Effect' and people boycotting his brands due to his handling of the sale of BHS and the hole in the pension fund. This could definitely be having an effect on Topman as many people are aware that he is the owner.
The bum bag or fanny pack, call it what you will, has been on the cusp of style acceptance recently. Teetering on the brink, it finally came thru this season. YAS! Now, it feels right. It could be all the 90s sportswear or its practicality, but from designer to high-street to online we’re seeing the renaissance of this hands free solution.
Left - Jared Leto Guccifying his bum bag
It's perfect for festivals or when you want some extra security. You can wear it two ways: the classic around the waist or, like the kids, across the body.
Left - Louis Vuitton - Géronimos - £775
Below - Streetstyle cross body inspiration
Left - Weekday - Nylon Bumbag - £20 from ASOS
Left - Herschel - Khaki Orange Cross Body Bag - £45 from Topman
Far Left - Eastpak - Springer Bonded Blue - £22
Left - Jack Russell - £305
Below - Supreme X Louis Vuitton, Louis Vuitton AW17
If Instagram was to make a TV channel - which no doubt is probably on the expansion cards sometime in the future - it would look like Love Island: an endless stream of scantily clad hot people looking toned and buff in a semi-exotic holiday location.
It’s ticking all those visual social media boxes and the people don't really need to do or say anything. Which probably suits.
Love Island doesn't pretend to have an ‘real people’ like other reality shows, and therefore sticks to a young and more ‘filtered’ age group. It’s all the Vs: vain, vacuous and very addictive.
Left - One for the villa?! ASOS TALL Muscle Raglan T-Shirt - £14
You can chuck in shows such as Ex On The Beach and Ibiza Weekender too and you, basically, have a moving Instagram feed. These people are ‘mega stars’ on social media promoting protein powders and long-line, muscle-fit tees in the gaps between the yo-yoing opportunity of featuring in various forms of reality TV shows.
We’ve grown so used to swiping these types of pics that we can now deal with nightly, hourly viewings of people pretending to find L.O.V.E. when, in fact, the only thing the majority of people love is themselves and this attention we give only encourages it. #Brandme
What these shows show is the growing niche of Instagram and the things the audience on there wants to see. The power and endless fascination of looking at tanned, toned bodies in hotter climes pleases the braindead. It’s the visual equivalent of having a sun-bed.
And they’re influence cannot be underestimated within its targeted group. Move over Liz Hurley, as there have been reports of an explosion of sales of skinny white jeans thanks to the boys in the Love Island house. H&M, Topman and ASOS are all ‘reporting healthy sales’, well, according to The Daily Mail anyway.
And if you own a swim short brand, it's usually the only thing they're wearing, you want it on these guys.
It’s #BasicBitch TV and these are active consumers open to be influenced. This is the ‘skinny’ generation where too tight is not fitted enough. This is TV as fast and throwaway as the fashion.
It all looks so perfect and effortless, when in fact they’ve probably been working hard and eating ‘clean’ for months before the show. You can't 'cane it' like they do on Geordie Shore and maintain a six-pack. It increases the pressure, especially on the targeted young audience, to look like this and the stressful, bullying and competitive environment that crosses over to dating apps and their own social media.
I think Love Island is the peak of guys looking like this, in fashion terms anyway. The body beautiful isn't going anywhere, but the tide has turned on tight and I think we’ll look back in a few years and wonder what on earth were they wearing. Read more Goodbye Fitted/Skinny here
I think we all know how competitive it is at the lower end of the clothing market. But, it was an e-mail, a few weeks ago, from Marks & Spencer that really summed up where we are. It was announcing their new range of men’s ‘Quick Dry Swim Shorts’, all pretty standard for this time of year, but it was the price that caught my eye. A bargain £10! This is cheaper than Topman, cheaper than River Island and even New Look. It’s certainly cheap for M&S and, then, you realise all the retailers are busy racing to the bottom.
What this means is, in order for those companies to make money, they need to shift a hell of a lot of product. British retailers are currently playing a game of poker, holding their hand i.e. keeping prices low, waiting for their competitors to fold.
Left - Pep&Co at Poundland SS17
But, if this game wasn’t tough enough, new competition is entering the market which will only increase pressure on those margins and unsustainable volumes.
For example, Poundland has entered the clothing market. Their in-house brand, Pep&Co, launched into stores in March this year.
They've already opened over 50 Poundland shop-in-shops with another 50 or so planned for the second half of 2017. The chain, which was bought by the South African group Steinhoff International, expects to put Pep&Co clothing outlets in up to 200 of its 850 stores over the longer term.
Pep&Co was founded by Andy Bond, who once ran Asda’s George clothing label, with backing from the South African tycoon and Steinhoff shareholder Christo Wiese.
The first shop opened in Kettering, Northamptonshire, in July 2015 and the chain opened its first 50 stores in less than two months.
If people are wearing Poundland, it means they aren’t wearing another brand. This isn’t about sneering at this end of the market, it’s about wondering who will go out of business first. It's unsustainable.
The market is saturated and these business models only work if you can order huge volumes and shift it fast.
This is new competition for all the supermarket brands plus Peacocks and Primark and traditional high-street retailers like M&S and Debenhams are more keenly pricing their offering. Add discount brands such as TK Maxx and the neverending discounts and sales and you have an environment that is harder to make profit in.
Consumers are being squeezed with higher inflation and low wages and are generally satisfied with cheaper clothes. They can't or don't want to pay more.
Then add the internet, with Boohoo offering bargain fashion-led clothing and websites such as EverythingFivePounds, where everything is, literally, five pounds, and you have the perfect storm to implode some of the giants of the British high-street. Arcadia, the owner of Topman, is already seeing revenues fall and Topman is looking increasingly expensive against the competition.
In this game of pound wars poker, who will run out of chips and fold first?
Left - Louis Vuitton? No, Everythingfivepounds - £5
You can thank me after, but I just may have found the prom outfit to beat all other prom outfits!!!!! Be the king of the prom by taking inspiration from the king, Elvis himself, and Harry Styles with a combination of black and pink. A pink suit with a black shirt, no tie, says 'dressy cool' and is as timeless as rock itself.
The classic 50s colour combo of pink and black brings to mind Teddy Boys and rock 'n' roll. You want a black shirt with black buttons, plain. No contrasting. You can do black trousers if you don't want to buy the whole suit, but add white socks classic penny loafers and you'll be the beau of the ball!
Left - Harry Styles giving good Elvis in an bespoke Edward Sexton suit
Left - River Island - Pink Slim Fit Suit Jacket - £85
Left Below - River Island - Pink Slim Fit Suit Trousers - £40
Below - Hugo - Ebros Stretch Cotton Shirt - £100 from HarveyNichols.com
Left - ASOS - Super Skinny Suit In Mid Pink - £85
Left - Topman - Rose Pink Ultra Skinny Fit Suit - £130
Below - Ted Baker - Rosest Tailored Fit Shirt - £65 from John Lewis
Left - Opposuits - Mr Pink - £64.95
Below - The original, Elvis Presley
Left - Zara - Sartorial Suit Blazer - £99.99, Trousers - £49.99
Left - Zara - Basic Blazer - £39.99
Left - Actor Aidan Alexander at the Billboard Awards
Left - Marks & Spencer - Autograph - Pure Cotton Tailored Fit Shirt - £35
Left - Moss Bros - Moss Esq. - Regular Fit Black Single Cuff Non Iron Shirt - £25
Left - 1950s Cliff Richard
Below - New Look - Deep Pink Suit Jacket - £64.99, Deep Pink Suit Trousers - £29.99
Below - Be the king, this prom season
Put yellow and red together and you don't get orange, but Baywatch. This colour combo always says ‘Lifeguard’, even though on the new film, strangely, they’re using red and blue. Must be a copyright issue!
Anyway, make like Zac and Dwayne down on the beach and go for T-shirts and swim shorts in primary red and yellow. Take the hassle out of Hasselhoff and keep it simple. A strong yellow T-Shirt has always been a difficult one to blend into the wardrobe, but add a red swim short and you get a perfect combo.
Left - An oldie, but a goodie - Original Baywatch
Even if the film’s a load of rubbish, which it probably will be, you can’t get away from the attraction of the sea and surf. Forever and always, I'm always here!
Below - St. Moriz, the no.1 volume self tan brand in the UK, is making a big splash this summer by partnering with the new Baywatch movie which hit screens from 29th May
Left - Orlebar Brown - OB-V - Sunshine Tailored-Fit V-Neck T-Shirt - £65, BULLDOG - Raspberry Mid-Length Swim Shorts - £145
Left - Whistles - Crumple Everyday T-Shirt - £35
Below - Topman - Red Embroidery Swim Shorts - £16
Left - Orlebar Brown SS17
Left - ASOS - Longline Knitted T-Shirt With Curved Hem In Yellow - £18
Below - Thom Browne - Slim-Fit Short-Length Stripe-Trimmed Swim Shorts - £290 from MRPORTER
Below - Topman - Mustard Reality Print T-Shirt - £15
Left - River Island - Yellow Rolled Sleeve Pocket T-Shirt - £8
Left - Patagonia - Nine Trails Jersey T-Shirt - £35 from MRPORTER
Below - Speedo - Solid Leisure 16” Swim Shorts - £15]
Jeans are in flux. Okay, that is a bit dramatic, but upstaged by the style and comfort of tracksuit bottoms and the fact that many jeans styles have become way too tight and skinny, it’s time for a new direction.
The ‘Dad Jean’ is deliberately ill-fitting and unflattering and looks surprising fresh. Liberating and, so-bad-they’re-good type of thing, you need the most ill-fitting shape, in the worst wash you can find. You can thank me later!
Okay, these may take a while to get used to, but, ask yourself, how long did it take until you committed to your first pair of skinny jeans?
Think Kurt Cobain.
Left & Far Left - Topman - Blue Cropped Wide Leg Fit Jeans - £40
Weekday - Drift Loose Cropped Jeans Lagoon Blue Wash - £40 from ASOS
River Island - Light Blue Wash Cody Loose Fit Raw Edge Jeans - £45
Who knew Obama was the king of the dad jean?!
So, today is Football Shirt Friday, raising money for bowel cancer research, but if you’re a follower of fashion, then everyday, this summer, can be football shirt friday. The football shirt is the new holiday hawaiian shirt. So, bin the hibiscus and hula-hula dancers and take to the terrace.
You can pick these up from vintage stores, charity shops and on the high-street and it doesn’t really matter which team you support as long as it’s ‘Team Style’. They need to feel as synthetic, shiny and as ‘drip dry’ as possible. These are a loose fit, so not fitted, clingy or ‘muscle fit’.
Team with a tracksuit and sandals or dad jeans and the best thing about these tops are they are usually fairly cheap and low maintenance. You can even wear these tops with a suit, (I recently rocked one with my Tom Ford suit and it worked on Instagram - see picture below), or on a lads holiday.
If anybody starts to talk to you about about football, just nod and back away!
Here’s 10 of the best:
Left - Gosha Rubchinskiy X Kappa - £50
Left - House of Holland X Umbro - Striped Jersey - £61
Left - Umbro - Witton SS Jersey - £14
Below - Devote - Navy Curved Hem Faded T-Shirt - £25 from Topman
Left - Diadora - Maseru Jersey Men’s - £24.99
Left - Puma - Speed S/S Short - £13.50
Below - Le Coq Sportif - Manufrance Jersey - £60
Left - Hummel - Core LS Poly Jersey - £14
Left - New Balance - Tech Training Elite SS Jersey - £28
Below - BoohooMan - Raglan Side Print T-Shirt - £10
To call it a recession is maybe a little extreme, but let’s call it a contraction. Menswear is struggling. Some are mouthing the word #brexit but this was coming way before that and affecting international markets too, most notably America.
Like everything that goes in cycles, you have your ups and you have your downs. We’re definitely in a down cycle as brands merge their men’s and women’s and reduce the amount of labels within their brands.
Left - Inside menswear is screaming
Many are private companies so they don’t disclose profits, but when you have menswear giants like Armani and Ralph Lauren losing labels - Collezioni and Armani Jeans in the case of Armani and store closures - in the case of Ralph Lauren - then things are clearly unsustainable.
Why is this happening? The first big answer is a saturated market. Do we need much more ‘stuff’? When Ikea’s head of sustainability, Steve Howard, said we’d reached “peak stuff”, he hit the nail on the head. We’ve seen expansion online and offline and our wardrobes are bursting with clothes at every price point.
Designer fashion isn’t coming up with many new ideas and this has lead to the high-street bringing the new ideas and offering improved quality that many men are happy with. I think companies like ASOS are doing well because people are trading down to cheaper and more fun fashion and don't really wear it long enough to care about the quality.
Brands like Topman have got more and more expensive and are not reactive enough to trends and the latest gimmicks and fashions. They’ve believed in their own ‘cool’ which is dangerous for any brand. Arcadia, Topman’s parent company, has seen many high profile departures lately. Craig McGregor left his role as retail director at Topshop/Topman, after eight years, and Topshop/Topman global commercial director Matt Brewster is leaving the company. Wesley Taylor left his role as managing director of Burton and Yasmin Yusuf left as creative director of Miss Selfridge, both after more than 10 years at the business. Which all suggests the epic growth Arcadia has experienced over the last few decades has now ground to a halt. They are no longer the darling of the British high-street.
Another reason for the men’s downturn is competition is fierce and this had lead to a discount environment. People know they can wait for the sale or search the internet for a discount code. This makes margins smaller for companies which then need to sell even larger volumes. We’ve also seen growth in companies like TK Maxx that offer people the brands they want, but with heavy discounts.
Fashion has changed too. It’s very sportswear/dress down driven. These are cheap or old clothes. Looking ‘expensive’ has gone out of fashion. Brands like Balenciaga and Gosha Rubchinskiy have pioneered this style of fugly fashion and while not cheap they have prices that are more realistic and attainable.
Millennials are all about ‘experiences’ and are less materialistic, or so we’re are told. All those selfies tell a different story, but I think they want to eat out and wear something new, which ultimately means spending less. This big group of young consumers is squeezed by rents, student loans and low wages and this isn’t going to change for the foreseeable future.
In the Evening Standard on Monday, Net-a-Porter/Mr Porter boss, Alison Loehnis, said when they measured “zeitgeist buying” in the Mr Porter team they discovered the number one item was socks. “Followed by Ray-Bans and trainers.” Socks?!! Now, that is worrying. Unless Mr Porter is selling hundreds of millions of dollars worth of socks, which I doubt, then it’s a signifier of the market. It’s too expensive and they are the cheapest things they sell. It’s also one of the main gifting items and something you don’t need to try on.
Online is still only 10% of the retail market so has huge potential, but that still means 9 in every 10 pounds is spent on the high street.
Net-a-Porter/Mr Porter call their top customers ‘EIPs’, (EXTREMELY IMPORTANT PERSON) and these EIPs are the two per cent of customers who account for 40 per cent of NAP revenue. It’s dangerous to have all your eggs in a few baskets, particularly a fickle customer which many others are chasing. They’re now offering a service where the driver waits while these EIPs try things on. It’s a gimmick, but at least it shows they’re trying. These EIPS are the people shopping in Selfridges and Harrods too, while the rest of us have seen our wage packets shrink or not go as far and designer prices continue to rise. #Brexit will make imports to the UK more expensive, temporarily, but fashion will just find somewhere cheaper to make it, but it’s true the weakest wont survive this price hike or margin cut.
Brands have been trimming the fat over the last few years and many are down to the bare bones. The recent christmas was good for retailers and I think that kept many afloat, for now.
Jaeger just announced its bankruptcy. I don’t think there’s much hope for it to survive as it is, but it’ll become a brand within Edinburgh Woollen Mill or the like. It’s the sign of the times and also the cycle of brands. There are times when a brand runs its course and no matter how much investment or time, it’s just time to let it go.
Okay, enough doom and gloom. On a positive note from a down you have an up and when a gap appears something new will come into fill it. But, our addiction to cheap clothes isn’t going anywhere which will make it very difficult for new, smaller brands or labels to compete. I think short term we’ll see more closures and less choice or a choice masked by the fact it’s a sub brand from a big retailer. H&M is just about to launch Arket.
One thing is for sure, fashion is unpredictable and that’s why I love it.
First things first, what exactly is Lurex? Lurex is a type of yarn or fabric which incorporates a glittering metallic thread. It gives the knit a sort of Christmasy makeover which is on just the right side of glittery.
It’s perfect for this time of year, under artificial lights or candles, and adds an element of reflective fun to a suit or evening wear.
I remember Prada produced a collection with lots of lurex in AW 2011 , below, and showed how it could look fresh and interesting in knitwear and accessories. I ended up buying a knitted tie. Lurex on men shows an element of confidence in the wearer and somebody you instantly gravitate to at a party. Get involved!
Here is a selection of what is available this season:
Far Left - Joseph - Lurex Merinos Polo - £195
Left - Vintage - Prada AW 2011
Left - ASOS - Knitted Metallic T-Shirt - £25
Left - Gucci - Lurex Jacquard Tank Top - £440 from LN-CC
Below - Balenciaga - Men’s Slip-on Lurex - £325
Left - AMI - Men’s Round Neck Pull In Lurex - £235
Left - Topman - Lurex Top - £20