Lessons from the Retail 100

What unites our Retail 100? Here are some common trends shared by, and learnings from, the inspirational leaders featured among this year’s index

Fewer fresh faces as strategies take shape

Unlike 2023 and 2022, this year’s Retail 100 has fewer new entries featured. While almost a third of the list are fresh faces (30), this is markedly lower than 2023 (44) and 2022 (36).

New entries include John Lewis Partnership executive director Peter Ruis, the retail veteran tasked with transforming the retailer’s fortunes; Urban Outfitters Europe managing director Emma Wisden with her Gen Z-targeted strategy; and Mamas & Papas chief executive Nathan Williams, having led an almighty turnaround of the 40-year-old retailer.

The continuity of many of last year’s leaders is demonstrative of the success of individuals in progressing strategies that are both beginning to take shape and delivering ongoing growth.

Indeed, there are more Retail 100 leaders classified as strategists this year – up 16% to 41.

Among the strategists celebrated are Ann Summers chief executive Maria Hollins. Hollins featured in the index for the first time last year having taken on the top role following the sad passing of Jacqueline Gold. In her second year as chief executive, Hollins has pursued a strategy of investment and expansion; opening four new UK stores and redesigning the retailer’s website and digital proposition, which – as her profile evidences – has contributed to an uptick in sales and profits.

Industry oracle Lord Simon Wolfson is also once again featured among the strategists. His evolution of the Next business, which includes overseas expansion and supply chain investment via its Total Platform, is generating results and his peers are taking note.

Peter Ruis

Maria Hollins

Lord Wolfson

Castore: Phil & Tom Beahon

Trinny London: Trinny Woodall

Refy: Jenna Meek

More disruptors making the industry stand to attention

Retail never stands still and this year the Retail 100 recognises 10 disruptors – up from six in 2023 – each of which have unique propositions that are winning over customers and are case studies as to how to innovate in a competitive market.

For instance, Castore founding brothers the Beahons, Refy founders Jess Hunt and Jenna Meek, and Trinny London creator Trinny Woodall are respectively shaking up athleisure, home accessories and beauty in their own ways with cult-like followings to boot.

All three businesses were launched in the past nine years – Refy just four years ago – and are collectively generating more than £124m per annum.

Three Retail 100 disruptors

Castore
Founded: 2015
Revenue: Over £50m
Instagram followers: 226,000
TikTok likes: 86,0000
Funding: £145m

Trinny London
Founded: 2017
Revenue: Over £50m
Instagram followers: 1.4 million
TikTok likes: 508,400
Funding: £7.4m

Refy
Founded: 2020
Revenue: £24m+
Instagram followers: 730,0000
TikTok likes: 2.5 million
Funding: 0 – self-funded

*Data correct as of May 1, 2024

CX and innovation key to success

CX is often lauded as the holy grail of retail and for good reason. Over a fifth of the Retail 100 have been celebrated as experience innovators for their work reigniting the thrill of shopping – be that online, in store or both through savvy investments in tech, new formats and customer engagement tools.

Holland & Barrett chair Alex Gourlay makes a debut having overseen a revitalised focus on CX with new in-store concessions, additional product ranges and categories, and a customer-facing app to help support wellness goals.

Elsewhere in the digital space, Charlotte Tilbury Beauty’s chief executive Demetra Pinsent has made an inaugural appearance, having led the beauty brand in the launch of its AI-powered app last June.

Store shake-ups are also clear to see – the strategy of Fortnum & Mason’s Tom Athron, for instance, highlights the value of making stores more experiential.

Alex Gourlay

Demetra Pinsent

Chris Turner

Adam Jay

Sustainability remains top of the agenda

When times are tough, it can be all too easy for industry leadership to focus on profits over purpose, yet the line-up of the Retail 100 are proof that sustainability has not fallen off the priority list.

With 10 sustainability activists featured, equal to 2023, greener business is better. The new addition of B Labs UK boss Chris Turner, at the helm of the organisation that grants the much-coveted B Corp status, is indicative of the shift in the sector to bolster their eco credentials.

Likewise, the success of Adam Jay with Vinted, achieving profitability for the first time this year; and eBay breaking down barriers by removing fees for preloved goods; demonstrate how shoppers' attitudes and spending are changing. Sustainable fashion has moved to the mainstream.

Retail voices resonate

Observant readers will note that there are fewer Retail 100 leaders recognised as people champions this year, with eight celebrated (down from 10 in 2023). However, this does not mean the role of these ambassadors has become any less important – in fact, their voices have only got bigger and more impactful.

BRC chief executive Helen Dickinson made major strides this year when her and her teams’ calls for measures on retail crime were met by the government.

Similarly, Iceland’s Richard Walker, famously no shrinking violet, recently took action to help consumers amid the cost-of-living crisis by illegally reducing prices on baby formula. His actions saw notable grocers follow him – providing a much-needed boost to mothers and families in need.

More than anything it is evident that retail leaders in 2024, and looking ahead to 2025, will not find success without putting customers and colleagues first.

Helen Dickinson

Richard Walker

You have met the Retail 100 2024 and now it is time to learn from them. Let us know your thoughts on the Retail 100 and who you would like to see in the 2025 line-up by posting on Twitter and LinkedIn with the hashtag #RWRetail100