Whilst we are all aware of the numerous labels that dominate the UK fashion market, both online and on the high street, many of us are unaware of who really controls the UK fashion. Many labels are owned by single brands at the top of the food chain and in the past, several labels have been taken over by larger companies who have kept the label the same meaning many of us have no idea who really owns what. With this in mind, here is a quick breakdown of who really owns what in the UK fashion industry.
H & M Group
The H&M Group currently have the single biggest market share on the high street with a whopping annual net income over £1.7 billion. The high street chain is well known for it’s quirky and on the pulse fashion options at reasonable prices for both men and women. The group itself is the result of a number of company mergers from the likes of Cheap Monday, COS and WeekDay labels and the group is expanding it’s range and reach year on year.
With a net income of over £900 million and brands under it’s umbrella such as Pull and Bear, Bershka, Zara and Oysho it’s not too hard to see why the Inditex group is one of the most dominant in the UK market. Much like the H&M Group, Inditex and it’s super-wealthy owner Amancio Ortega specialise in not only presenting innovative brands but also in buying up other labels and improving their customer base and ultimately their profitability.
According to Fashion United, the UK fashion industry is worth just under £66 billion, it is worth noting then that these two groups alone contribute over 3% of this figure. That number may sound small but just consider the number of labels, shops and brands that are on the market and you soon realise the magnitude of this 3%. Much of the money that is spent on fashion in the UK is spent online as retailers and brands have discovered the power of the internet when it comes to boosting profits. Whilst many high street shops have an internet presence, there are a few that solely operate online and here are some of the big hitters.
Following it’s launch in 2006 BooHoo.com has seen remarkable success and it’s number of labels that it offers is growing each year. The website currently has a net income of around £9million and whilst it may not yet be bringing in the profits of other online retailers such as Asos, the website is experiencing a real growth spurt thanks to it’s many promotions and novel social media advertising. Currently on My Voucher Codes there is a fantastic offer for money off on the boohoo website and it is promotions like this that is putting the boohoo name on everyone’s lips. Keep an eye on this website as it is sure to continue is steady ascent in the World of online fashion.
Asos.com is the largest online retailer in the UK since it’s inception in 2000 it has build a huge online presence around Europe and currently has revenue in the UK of around £1,000 million. The website has invested heavily in promotions and advertising and has spent a great deal of money on celebrities to promote the company’s brand. Asos stand for ‘as seen on screen’ and currently offers hundreds of top labels to consumers at fantastic prices compared to the high street. As the online market continues to soar, expect Asos to be right up there as one of the go-to places on the internet for fashion shopping.