Carping about indifferent trading is fine, but Topshop continues to plough its own distinctive furrow.

Reading a SWOT analysis of Topshop by my colleagues put me in mind of a recent visit to the Oxford Street flagship.

Following a walk from Marble Arch to Oxford Circus, I eventually ended up in front of the fashion emporium and, in fairness, it had the most eye-catching windows on this long strip (Selfridges not excepted).

“This is catwalk democracy – a place where you can feel part of the fashion milieu without having to resort to spending four-figure sums”

As ever, the display featured a troupe of mannequins around which a backdrop had been constructed and in this instance it consisted of window decals (that looked like brightly coloured graffiti) and some coloured neon tubes in a variety of shapes.

The clothes sported by the mannequins were solid blocks of colour, meaning that they had at least some chance of competing with their surroundings, although this wasn’t really the point.

Uncompromising

What really mattered was the fact that in contrast to almost every other shop along Oxford Street this one was uncompromising in its fashion shout – there was no mistaking its intent.

This particular outlet of Topshop has, with the world’s largest Niketown next door, long been a tourist destination in the capital and, recent currency depreciation notwithstanding, has also been known as a place to splash the cash.

Topshop Oxford Street

Topshop Oxford Street

The Topshop store in Oxford Street is uncompromising in its fashion shout

The fact that it is not as cheap as some others is not the point. This is catwalk democracy – a place where you can feel part of the fashion milieu without having to resort to spending four-figure sums to buy fab designer gear.

And conversion rates remain high. Hover at the entrance to this store and the number of shoppers emerging bagless is significantly low.

There is, of course, the point that Topshop is rather more than its Oxford Circus location.

Tough season

A visit to one of the larger metropolitan stores outside London, the outpost in Manchester’s Arndale centre perhaps, reveals the same traits, albeit on a more modest scale – the visual merchandising and excitement remain evident.

“Fashion shoppers have been feeling the pinch and opening their purses more cautiously”

And that it is rumoured to have suffered lately should not be taken as evidence of failure.

It’s been a tough season for any fashion operator and the percentages slashed in mid-season Sales have been higher than usual.

Fashion shoppers have been feeling the pinch and opening their purses more cautiously. For some retailers this has meant cutting back on window displays and in-store visual merchandising.

Not so Topshop, which continues to steer its way through choppy modish waters.

It may be experiencing a little local difficulty, but this one will stay the course.