Thursday, April 14, 2016

M&S Needs To Be More Stylish, Says New CEO

Marks & Spencer´s new chief executive, Steve Rowe, attributed the brand's declining clothing sales to lack of style yesterday in his first official address.

"We have not been as stylish as customers wanted us to be, we have not had the availability of product when they wanted it and need to make sure we have the right product in the right place in terms of our ranges," he said, reports The Telegraph, which also states that a part of Rowe's new plan could be to terminate capsule clothing ranges (such as Per Una, Classic, Indigo, Limited Edition and Autograph) amidst claims that customers are confused by what they find on the shop floor.

"Let me be very clear, this performance was not good enough," he said, adding "We have started to make improvements in that and we can see that in our like-for likes but we have lots more to do and we will work really hard on that."


Rowe - who has worked at M&S since he was 15, rising through the ranks from Saturday boy, to merchandiser, to manager, to the head of the profitable food department (currently the jewel in the company's crown) - said that he was disappointed with the performance of the womenswear category and plans to study in depth where the brand is falling short.

In the last year the brand has enlisted several famous fashion faces and launched a number of exclusive initiatives to entice customers back into stores, including the Archive By Alexa collection (which goes on sale next week); a collection designed by fashion East founder Lulu Kennedy; an eco collection by Livia Firth; and a childrenswear collection by Vogue cover star Jourdan Dunn. It also enjoys a long-running and successful partnerships with David Gandy and Rosie Huntington-Whiteley, whose lingerie and underwear collections for the store have been widely lauded and popular with customers.

According to data from Kantar Worldpanel, the company's share of the clothing market has declined for 17 consecutive quarters. Rowe's full strategy for how to turn around the fortunes of its womenswear will be unveiled next month.

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