The shake-up at Marks & Spencer continues after the retailer struck deals with four womenswear brands to give its sales a kick.
M&S will sell popular brands Joules, Phase Eight, Hobbs and Seasalt online and in shops when they reopen after lockdown.
Clothes sales were poor over the festive period but it has moved fast to make its range more appealing and has bought Jaeger for £5million from administration.
M&S will sell popular brands Joules, Phase Eight, Hobbs and Seasalt online and in shops when they reopen after lockdown
Chief executive Steve Rowe wants to avoid turning M&S into a department store, but it has increasingly followed Next’s lead by looking to sell clothes from third parties online and in stores.
Rowe said this month: ‘We’ve got no intention of turning this into a department store at all. This is about finding and partnering with adjacent brands.’
It is understood the latest brands have been picked by M&S as they are appealing to its middle-aged female customer base.
For years it has relied on selling its own brands, which include M&S Collection, Autograph, Per Una and Blue Harbour menswear.
But the strategy has failed to pay off, with commentators labelling the clothes outdated and stale.
So far online collaborations with Nobody’s Child and Ghost fashion labels have proved fruitful, while a partnership with Early Learning Centre in the run-up to Christmas boosted festive sales.
Retail analysts speculate that if Jaeger succeeds then Rowe could look to implement a more active acquisitions strategy in future.
Clive Black, analyst at Shore Capital, said: ‘Once we come out of lockdown and stores reopen M&S can return to profitability and strengthen the balance sheet.
‘Rowe has shown with the Ocado joint venture and rights issue he does not want the company to be a victim. I think we could see more bolt-on deals in clothing, food and home.’
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