M&S bids to woo families with revamp of clothing
‘Must become more relevant’
MARKS & Spencer is to try to lure more families into its stores with an extensive revamp of its clothing business.
The chain aims to become the destination of choice for everyday items including jeans, T-shirts and even cashmere jumpers as well bras and knickers.
It is also promising to increase the quality of more specialist items and one-off purchases such as party dresses.
The clothing overhaul comes days after a shake-up at the food division that looks likely to lead to price cuts and better quality.
M&S, which was founded in 1884, has fallen out of favour with British customers in recent years as it struggles to keep up with changing fashion tastes. But chairman Archie Norman and chief executive Steve Rowe are assembling a new management team to try to revive the company’s fortunes.
Announcing plans to attract more families, new head of clothing Jill McDonald said: ‘M&S clothing is transforming. We’re crystal clear on the challenge.
‘We must become more relevant to more people offering the right products at the right prices to appeal to our core customers and attract new ones.’
M&S, whose typical customer is over 50, wants to become a destination for all essential clothing and food items instead of a place to buy just pants and socks.
It sells one in three of all bras bought in Britain, but has struggled to fend off competition from the likes of John Lewis and Next in women’s fashion, where it has a 10 per cent market share.
M&S has 32million customers, of which 42 per cent are men and 22 per cent are under 35. But nine in ten customers go into the shop to buy only one item.
The chain’s transformation strategy has included closing some stores, cutting hundreds of jobs and slashing prices.
It is also parting company with some of its leading directors to speed up its overhaul.
These include Belinda Earl, 56, the former Debenhams and Jaeger boss who was hired by M&S as style director in 2012. Her clothing collections won accolades but failed to stem sliding sales.
Also departing is womenswear and lingerie chief Queralt Ferrer and menswear boss Michael Kerr who has been at M&S for 35 years.
Russ Mould, a director at investment firm AJ Bell, said yesterday: ‘M&S needs to get the fashion basics right in areas such as lingerie and denim and build on its reputation for schoolwear to attract customers, but its real focus should be on style, not fashion, and quality not price.’
By investing in its online business, M&S could win ‘a more youthful customer and keep existing fans happy’, he said.
Mr Rowe has previously admitted that the retailer has not paid enough attention to its biggest customer, who he calls ‘Mrs M&S’ – women in their 50s who visit the shop 18 times a year spending £28 on clothes in each visit.