14 Simon Wolfson

Wolfson, who was given a peerage this year, knows the importance of growth through online and is chasing it both here and in international markets.

Next, no stranger to home shopping thanks to its Directory, has not turned its back on these roots but is in favour of a truly multichannel model. It launched its new TV adverts online this year and allowed customers to “shop the ad”. Its Directory business enjoyed sales growth of 9.5% in the six months to July, with orders placed on the internet now accounting for over 70% of Directory sales.

Wolfson has also said he will use online, rather than a huge store roll-out, to build its international presence. Next has formed a partnership with US fashion giant Sears to sell Next clothing on its site. It is also selling third-party brands on its eponymous site and the site of its young fashion label Lipsy, which is moving to sell more third-party brands that could benefit from its traffic and in turn attract customers to Lipsy.

As Wolfson predicts a more subdued level of growth for all high street retailers, he will be hoping online continues to bring the growth that bricks and mortar stores are struggling to deliver.