3.0 Industry and Competitor Analysis The fashion industry in the UK, Europe and the US has several players who compete for the rich market niche. Compare to its competitors in the clothing and accessories industry, Ted Baker performs very well as evidence by its improved financial ratios e.g the EPS over the past five years.
3.1 Industry Overview The high-street fashion industry is dominated by several firms but Ted Baker is continually winning attention in that industry. The Mintel stores (2013) reported that although consumers within the clothing industry increased their purchases of clothing items therefore driving up sales in the industry, volume growth slowed down due to inflation making the market vulnerable to rising costs especially that of cotton. The company’s pre-eminent rival Next Plc. is slightly longer established and therefore having an advantage in accessing more customers compared to Ted Baker which still has a larger room for growth. Other competitors include Primark, All Saints, Zara, SuperGroup Plc. and GAP Inc.
3.2 Company’s Industry Position With the rival Next Plc. prompting to lower its annual profit guidance from £775m to £815m, Ted Baker has continued to gain enhanced attention in the clothing industry and more consumers are increasingly identifying with the brand as
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Competition is high in the clothing industry, but good strategies plus skills, hard work and commitment from Ted Bakers team has enhanced the attention given to the company in the clothing industry. Ted Baker working culture has enabled it to attract a huge customer base and this has put it in a position to compete with well established brands such as Primark. By opening new stores in the overseas market, the company is positioning itself to become a market leader in the lifestyle designer brand