Market Analysis for Marks & Spencers
ⅠCompany Introduction & Background
Marks and Spencer is one of the UK 's leading retailers. It has four operating divisions, UK retail, international retail, financial services and ventures. UK retail is further divided into women 's wear, menswear, lingerie; children 's wear, home, beauty and food. It is the largest clothing retailer in the UK by turnover.
Sir Richard Green Bury was the chairman and chief-executive of the British retailing giant Marks and Spencer from 1988 to 1999. During his tenure the company continued to grow strongly until it reached its peak in 1997 and 1998 when it was second most profitable retailer in the world after Wal-Mart.
The company began in 1884 when Russian Refugee Michael Marks opened a market stall in Kirk gate market, Leeds. In 1894, Marks met and formed a partnership with Tom Spencer. It grows from a market stall to a clothing store in the first year of the 20th century.
Marks and Spencer registered as private Ltd Company in 1903. In 1930, the flagship marble arch store was opened and in 1948, Marks and Spencer opened the first self-service store, in London 's wood green.
With its middle priced items and 315 stores in 30 countries, M & S was sometimes viewed in the past as old-fashioned, not very consumer oriented and with unfocused areas in its outlets. At the same time the buying relations with the suppliers also proved to be unsuccessful. So it decided to exit its retail engagement from European countries like France and Germany and also from USA. And more concentrated only on Great Britain and the new efforts will prove to be successful.
ⅡUK Clothing Retail Industry
The UK remained the second biggest clothing market in the EU behind Germany. UK consumers are the biggest spenders per capita on clothing in the EU. While the import and export market increased over the years, local production fell rapidly by approximately 1 bn pounds. As a result of these figures it is obvious
Marks and Spencer is one of the UK 's leading retailers. It has four operating divisions, UK retail, international retail, financial services and ventures. UK retail is further divided into women 's wear, menswear, lingerie; children 's wear, home, beauty and food. It is the largest clothing retailer in the UK by turnover.
Sir Richard Green Bury was the chairman and chief-executive of the British retailing giant Marks and Spencer from 1988 to 1999. During his tenure the company continued to grow strongly until it reached its peak in 1997 and 1998 when it was second most profitable retailer in the world after Wal-Mart.
The company began in 1884 when Russian Refugee Michael Marks opened a market stall in Kirk gate market, Leeds. In 1894, Marks met and formed a partnership with Tom Spencer. It grows from a market stall to a clothing store in the first year of the 20th century.
Marks and Spencer registered as private Ltd Company in 1903. In 1930, the flagship marble arch store was opened and in 1948, Marks and Spencer opened the first self-service store, in London 's wood green.
With its middle priced items and 315 stores in 30 countries, M & S was sometimes viewed in the past as old-fashioned, not very consumer oriented and with unfocused areas in its outlets. At the same time the buying relations with the suppliers also proved to be unsuccessful. So it decided to exit its retail engagement from European countries like France and Germany and also from USA. And more concentrated only on Great Britain and the new efforts will prove to be successful.
ⅡUK Clothing Retail Industry
The UK remained the second biggest clothing market in the EU behind Germany. UK consumers are the biggest spenders per capita on clothing in the EU. While the import and export market increased over the years, local production fell rapidly by approximately 1 bn pounds. As a result of these figures it is obvious
References: 9. Ian Dobbs, "Managerial Economics", Oxford University Press, 2000: P219 10