LESSONS FROM THE LIST

What does it take to be truly influential in retail in 2025 and beyond? We explore key trends shaping this year’s index of leaders and some learnings from the list.  

Having slipped to 30 last year, the number of new entries to the list was up by four in 2025 (34), but still lagging behind the new faces included in 2023 (44) and 2022 (36).  

The number of entrants holding onto their spot this year nods to strategic progress and an appetite for consistency at the top.

Balanced yet bold strategies 

While there had been a 16% surge in Retail 100 leaders joining the Strategists category last year, we celebrate 52 Strategists in 2025, up by just 2% from 2024 (51).

This year’s Strategists stand out for their proficiency at balancing the bold with the measured, saving costs, while making savvy, growth-driving investments.

Across the profiles, profitable progress permeates, as well as shared frustrations around new government policies and associated rising costs, with the Strategists using their influence to speak out against Budget decisions that will add further unwelcome costs and pressures.

New entries to the list include Nike president and chief executive Elliott Hill, who was parachuted back in to turn around the fortunes of the struggling sportswear brand. It’s a similar story for Asda executive chairman Allan Leighton who, 20 years after having left the grocer, has been brought back to revive the beleaguered business where he’s targeting prices, availability, and product ranges amid an ongoing restructure.

While some Strategists made the grade for their transformation prowess, others are acclaimed ecommerce elevators, tech innovators, or are back in expansionist mode. Among those, Waitrose executive director James Bailey is ramping up investment in store makeovers and openings, having thrown open the doors to the upmarket grocer’s first new convenience store in six years.

In fact, growing physical footprint is a priority across the Retail 100 categories. Disruptor founders of premium sportswear brand Castore, Philip and Tom Beahon, have been laser- focused on getting their bricks-and-mortar store strategy right with a raft of UK store openings.  

Diverse Disruptors: old guard meets new wave 

Agile, innovative and breaking the mould, there are 16 Disruptors recognised in the Retail 100 in 2025, up from 10 the previous year.

The eclectic mix includes TikTok Shop UK head of operations Jan Wilk, who makes the list for the first time, indicative of the explosion of social commerce and its ongoing impact on different modes of brand discovery and converting searching to sales.

And while newness is a common thread among many of our Disruptors, retail stalwarts move into the category, too. This includes Sports Direct founder Mike Ashley, who has grabbed his fair share of headlines in 2025, not least for his very public bid to be installed as embattled retailer Boohoo’s chief executive, as well as a thwarted takeover bid for luxury bag brand Mulberry.

The disruptor line-up truly reflects the moves causing a stir in retail, with space being made for new entry Joseph Price, managing director of private equity firm Modella Capital, which, among other notable moves, had snapped up the high street arm of WHSmith, with stores set to be rebranded to TGJones.

Also disrupting UK retail is chancellor of the exchequer Rachel Reeves, whose controversial Budget policies crop up in many of her fellow Retail 100 entries’ profiles as our leaders lament her divisive policies.

Customer-centric innovation 

The number of Experience Innovators in the 2025 Retail 100 is down by one compared to last year. The index celebrates 20 entries that are elevating shopping, supercharging customer experience and, regardless of sector, business size, or whether omnichannel or online-only, entrenching the customer at the heart of everything.

Our list epitomises the power of evolved customer loyalty strategies. Sephora UK managing director Sarah Boyd is in the list again, leaning into a points-based loyalty programme as the dynamic beauty brand continues to recruit new customers and delight its existing legion of brand superfans. Also driving brand advocacy, under chief executive Michael Murray’s leadership, Frasers Group announced a membership scheme for Sports Direct.

Many of our entries are diversifying their loyalty-driving tactics and integrating customer-centric technology and experiences across their retail ecosystems to ensure consumers’ individual needs are so effectively met that they remain immersed in the business and rewarded for their commitment.

“Loyalty today is about creating a brand experience so relevant, rewarding, and connected that customers don’t want to go elsewhere,” says Roger Williams, head of Loyalty Centre of Excellence, Marigold. “It’s not just about points or perks. It’s about meeting individual needs with consistency and care, across every touchpoint and the full customer lifecycle. The brands doing this well are proving that loyalty doesn’t have to be complex to be powerful—it just has to be personal.”

Beauty retailers are well represented in the Experience Innovators, with Charlotte Tilbury Beauty chief executive Demetra Pinsent’s personalised, experience-focused strategy key to the brand’s success at capturing and keeping customers.  

Looking beyond pricing and discounting, leaders in our lists have reimagined loyalty strategies that combine bespoke experiences – both online and in-store, individual product targeting, and gifting for special occasions such as birthdays. Our leaders recognise the need for holistic approaches to loyalty, helping elevate customer experience while enhancing the concept of brand community, creating deeper, longer-lasting connections.

As consumer habits and demands continue to change at a dizzying pace, those leaders that have been able to turn fickle shoppers into brand advocates deserve their place in the list as loyalty remains a significant contributor to sustainable growth – and with so much customer data available, the opportunities here continue to be vast.

Sustainability demands experimentation  

The number of Sustainability Activists halved to five in 2025 compared to 2024, perhaps indicative of other issues keeping retail leaders up at night. As economic and political pressures converge, and retailers are asked to do more with less, sustainability strategies are arguably at risk of slipping down the agenda as priorities shift.

Even more reason for the influence of green crusaders to be celebrated – Reformation chief executive Hali Borenstein is an exciting new entry to the Retail 100, as her leadership ensures the clothing brand stays true to its mission to make “killer clothing without killing the environment” with bullish sustainability aims such as producing all its fabrics from recycled materials by the end of this year.

And while our Sustainability Activist numbers may be diminished, the impact those activists are having has not, as some make a foray into physical retail, increasing their visibility and access to new audiences. Vinted marketplace chief executive Adam Jay is back on the list for another year, with the pre-loved retailer’s opening of a physical pop-up shop, mirrored by rival eBay UK. eBay vice president and general manager Eve Williams returns to the list too, with the brand also having tried its hand at physical retail with a London pop-up.  

Crime fighters making real change 

This year we celebrate seven People Champions. And what a year it has been for those individuals who have been influential in bringing about very real, impactful change for retail workers at a time when it is keenly needed.

Ever a people advocate, Retail Trust chief executive Chris Brook-Carter’s entry to the list in 2025 is deserved for his resolute campaigning for retail workers to be protected amid rising crime rates. The efforts of industry orators have paid off, with assaults against retail workers being made an offence, plus harsher penalties for shoplifting coming in as part of the government’s crime and policing bill.

BRC chief executive Helen Dickinson is also recognised for tirelessly campaigning for this crucial imperative, as well as speaking out on Reeves’ controversial Budget measures and the potential impact of US president Donald Trump’s tariffs.  

Meanwhile, H&M UK and Ireland chief executive Henrik Nordvall joins the Retail 100, having raised the bar when it comes to his people and leadership approach.

Now in its 20th year, the Retail 100 continues to celebrate an eclectic, dynamic retail line-up, hailing diverse mindsets and strategic mastery that will continue to influence retail in 2025 and beyond.