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Marks Spencer Essay

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Below is an essay on "Marks Spencer" from Anti Essays, your source for research papers, essays, and term paper examples.

. Background Information
  Marks and Spencer (M&S) is a retailer headquartered based on UK since 1884 and specializes in the selling of clothing and luxury food products. Since 1920s, the company went public and experienced a great expansion. M&S was the first British Retailer who purchased goods directly from manufacturers – in order to keep a low cost. From 1980s to 1993, the company has the ambition to develop new markets in Europe and Hong Kong, meanwhile acquire two American retailers. However, the expansion plan met problem since the acquisition was not profitable enough compared to the huge investment. During the same period, M&S’s competitors took the strategies like lower the costs on sourcing goods offshore, while M&S relied on suppliers in UK. The early 1990s economy recession brought the company into a difficult situation as their business goal was ‘100% made in UK’. Customers, especially younger generations were prefer low-cost but trendy merchandise. From 1994, because of the cost cutting, efficiency improvement, horizontal product development, geographic expansion and international franchise program, M&S back to be the most profitable retailer in UK. However in the end of 1998 the company was not able to maintain its value price amid competition from imports. Moreover, they did not accept credit card until 2000, which was not attract to young consumers.
In early 2000, Luc was nominated as the person who reformed the business. The new model was refocus on the UK market, divested all but own-brand products, accelerated the move to offshore sourcing and introduce products attract to younger people. Also they built the Simply food in food retailing, which are convenience stores located in high visibility areas and targeted upscale customers interested in fresh and prepared foods. So in 2004, the board of M&S was reorganized and Rose re-joined the company. Her plan was: focus on the core value that had made M&S an icon: value for money products,...

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