After decades of snapping at the heels of rival Marks & Spencer, Next has overtaken the company on profits. And now the High Street giant appears to have come up with a foolproof plan for staying in the lead when it comes to womenswear. Britain's biggest fashion retailer has an impressive line in designer copies selling for a fraction of the price of the big labels. So if you love the Mulberry Bayswater tote, but wince at the eye-watering price tag, you can pick up a looky-likey from Next. Or if you fancy yourself in a Victoria Beckham-style armband shift dress, but wouldn't remortgage your home to pay for it, the Next version could be just the ticket. Scroll down for video . VICTORIA BECKHAM had a hit with this armband shift dress (victoria beckham.com). Next's compact cut-out shoulder dress is a fraction of the price . And it's not just designer clothes that the company is expert at emulating. It also does its own versions of high-end homeware that won't break the bank. Karen Kay, fashion and retail commentator, says one of Next's greatest strengths is identifying catwalk trends that will appeal to its target market: mothers aged 30 and over and women starting out in their careers. 'A perfect example is the Next tan washed saddle bag, which is very like the Chloe satchel,' says Karen. 'It's a classic shape that's also fashionable, a good combination for Next customers looking for grown up-style. 'What they don't do, unlike shops appealing to younger women, such as Zara and Topshop, is copy one-season wonders. 'Next customers are not looking for high fashion, but clothes to wear to an interview or at the office, and they have a much better line in these, including their designer copies, than Marks & Spencer.' THE Lot78 jacket (net-a-porter.com) is lamb's leather, while Next's cropped PU biker is made from viscose, polyester and cotton, hence the £700 price difference . A MULBERRY Bayswater tote (selfridges.com) is made from top quality leather, but at a saving of £900, Next's polyurethane bag is a dead ringer . It takes three to four months for designs on the catwalk to appear, in some shape or form, in Next. Zara and Topshop - whose younger customers are eager to get their hands on high fashion - have an even quicker turnaround of three to four weeks. Designer copycats have become a huge retail strategy in recent years, because while what appeared on the catwalk used to be kept under wraps until it arrived in the shops, now the runway attracts wide coverage, including online, and people expect to see versions on the High Street. And these great lines in designer lookalikes go some way towards explaining how Next reported a rise in annual profits of 12 per cent, to £695 million, last year and a further 12.5 per cent over the past 12 months, with profits totalling £782 million. The company is worth £11 billion, making it second only to Tesco in the retail sector. That's impressive in a market that includes 'pile-'em-high, sell-'em-cheap' stores such as Primark and H&M. But, says Karen Kay, older shoppers will pay more for the better-quality stitching, buttons and linings at Next. As well as 500 stores in Britain and Ireland, and 200 overseas, a substantial proportion of Next's turnover comes from online and catalogue sales. CHLOE'S medium Marcie satchel (harrods.co.uk) may have inspired Next's much cheaper washed saddle bag . Besides its designer copies, shopping online at Next provides almost instant gratification, as items ordered before 11pm are guaranteed for delivery the next day. Combined with an easy returns service - items can be collected from your home by a courier - this means that if you fancy yourself in a Stella McCartney-style lace dress, but fear it may not flatter your thighs, you can try one on at home with minimal hassle, then get the chain to take it back if you're not satisfied. Last year, Next began selling designer labels, including DKNY and Dolce & Gabbana, alongside its own brands, online and in the Next Directory. And this innovation, says Karen, may have fuelled the company's appetite for designer copies even further. 'Customers no doubt drool over a Joseph dress or Karl Lagerfeld blouse in the designer section, then spot something with the same sort of detail for a third of the price by Next's own label and decide to give that a go,' says Karen. 'The only note of caution I would sound is that Next fabrics can be disappointing, as they use a lot of synthetics such as viscose and polyester - though this, of course, keeps the costs down.' GIANVITO ROSSI double-band crocodile mules (harrods.com) The shoes above cost more than 50 times Next's shiny golden versions, seen here . THE Bloomingville copper pendant light at Next (r) is less than half the price of the Original BTC copper-plated hand-spun Stanley pendant light from Liberty (liberty.com) NEXT'S Noir luxury fragranced candle (r) is a fifth of the price of Jo Malone's oud & bergamot home candle (jomalone.co.uk)
Next has overtaken Marks & Spencer on profits.
Retailer has a vast line in designer copies selling for a fraction of the price.
Include looky-likey Mulberry Bayswater tote and Victoria Beckham dress.