In 2011 the executive team at Topps Tiles plc were looking to refresh and strengthen their strategy and identify new avenues for sustainable growth.
Since 2011 Morgan Cross Consulting has worked with the executive team to
- Identify and embed a clear, #1 strategic goal for the business, that would drive ongoing strategic decisions and actions. The goal selected was to profitably grow market share from 26% to 1/3 of the UK domestic tile market
- Establish focus around the retailer’s core competitive strategy, ensuring that it can deliver its sales and share growth ambitions. The strategy has been summarised as “out-specialising the specialists”. This meant delivering competitive advantage in three areas; customer inspiration, multichannel convenience and range authority.
- Agree specific strategic initiatives and priorities for action, enabling the organisation to deliver the competitive strategy and achieve the #1 market share goal
Topps Tiles’s market share has grown from c.26% in 2011 to over 30% by the end of 2014, and is on-track to achieve the 1/3 goal. Alongside this success, sales have grown 14% to £200 million and pre-tax profits have more than doubled to £17 million.
To find out more contact Stuart by clicking here or call +44-(0)1636-526111.