Don’t worry about competing with a successful business on their terms. Instead, find your own way.
Just because a competitor has got a corner of the market all sewn up, it doesn’t mean your business can’t also thrive. First, look at exactly what they’re doing and why it’s working for them. This will give you an insight into what customers are looking for and it could also reveal a gap in the market.
Think about how you can distance yourself from your competitor. Perhaps focus on more modern (or traditional) designs, or cater for a younger (or older) audience. You could also aim for a reputation for the best customer service, or the trendiest new styles.