TopShop heads to Australia: Five things to learn from the UK fashion juggernaut

But TopShop is not entering unchartered territory: Australia is one of its largest online markets.

The Australian Financial Review reports that the British clothing group will lease a spot on the corner of George and Market Streets in Sydney’s CBD. The site was formerly the home of department store Gowings.

TopShop has also been rumoured to be interested in taking over the Borders sites in Chapel Street and Chadstone Shopping Centre in Melbourne.

So what are the secrets to TopShop’s success?

• Deliver value for money

TopShop products are not only good fun, but they’re reasonably affordable and last for longer than many of its fast-fashion peers. Its customers say for the price, the store is good value – and value for money, as we know, has become an increasingly important commodity post-GFC. Throw in free shipping and a good website, and you can see why people are keen.

• Don’t be afraid to take risks

Because TopShop is fast-fashion, it can afford to offer a touch of “alternative” in what is really an established global chain. And because the products change over quickly, an unpopular product doesn’t spend months sitting in the stores, and customers are encouraged to make snap decisions on whether they want an item or not, because chances are it’ll be gone by their next visit.

• If you have a good brand, exploit it

There’s always a temptation to stick to your knitting when a business is onto a winning formula. But TopShop, which sells everything from women’s and men’s clothing to shoes, accessories, make-up and gifts, has taken the goodwill from its core business and branched out, delivering attractive diversification and revenue streams in the notoriously volatile fashion world. Likewise its blog, which features everything from fashion tips to make-up tutorials, to artistic photos from festivals to cute pictures of dogs.

• Power of celebrity

TopShop is seen as slightly younger and edgier than Spain’s Zara, so a collaboration with the hard-living British supermodel Kate Moss proved an inspired move, with her debut collection in 2007 stopping traffic. Kate Middleton and Beyoncé are both fans, demonstrating that just because you can afford to shop at high-end stores all the time doesn’t mean you should ignore cheap and cheerful.

• Sir Philip Green

Billionaire TopShop owner Sir Philip Green has plenty of detractors, with criticisms ranging from tax avoidance and his foul language to flashiness with his wealth. Derided in the UK as a “barrow boy”, his fans nonetheless include David Cameron and Simon Cowell and praise his history of starting his first fashion business at the tender age of 15.