- Danielle Wightman-Stone |
Sportswear retailer Sweaty Betty, menswear brand Pretty Green and plus-size specialist Yours Clothing were among the fashion businesses identified by the London Stock Exchange Group in its annual ‘1,000 Companies To Inspire Britain’ report.
The report, which receives cross-party support and backing of UK’s major business bodies, identifies the fastest-growing small and medium-sized businesses across the UK, covering everything from retail to manufacturing and engineering, technology and digital, exports, food and drink, financial services, the creative industries, and companies from the London Stock Exchange Group’s Elite platform.
The report highlights the retail sector as a “powerhouse” in the UK economy, with around three million employees and sales in 2015 totally 333 billion pounds. It also highlighted the growing importance of ‘clicks and mortar’ and how “app-tapping consumers” are looking for digital and physical environments to merging to offer more personalised and relevant shopping experiences.
Its research also identified that 62 percent of shoppers say social media interaction with their favourite brands has driven them to buy more, while 58 percent of UK consumers say click-and-collect encourages them to visit stores more often.
In addition, the report also states that purchases on the internet now account for around 10 percent of all retail spending and that the projected value of online sales in the UK in 2019 is set to reach 86.96 billion pounds, showing that brands need to ensure their businesses are ready.
Sweaty Betty and Pretty Green listed as companies to inspire
Other fashion names to make the list includes designer kidswear retailer Childrensalon, womenswear chain Roman – formerly Roman Originals, flash sales site Secret Sales, e-commerce group The Hut, and Ralawise, a T-shirt printing business that has become one of Europe’s fastest-growing online B2B clothing, homewares and accessories distributors.
The Rt. Hon. George Osborne MP said: “UK high-growth businesses are leading the charge in rebuilding our economy. These companies are the backbone of the British economy. They create high-quality, well-paid jobs, innovate and drive economic growth. This government fully understands the need to support ambitious entrepreneurs and ensure they can access the finance they need to grow.
“We have held the steadfast belief that – alongside deficit reduction – nurturing entrepreneurs, creating jobs, supporting hard-working families and keeping taxes low would get the UK economy back on track. Our measures to increase access to finance for business and encourage more investment have had a transformative effect on our economy.”
Image: Sweaty Betty