Marks & Spencer: Difference between revisions
m fix link to Paddington |
No edit summary |
||
| Line 1: | Line 1: | ||
'''Marks and Spencer plc''' (known also as '''M&S''') is a major [[United Kingdom]] [[plc]] retailer concentrating on clothing and food. They also have international outlets. The headquarters of M&S is currently in [[Baker Street, London]]; during [[World War II]] these offices were used by the [[Special Operations Executive]] for secret missions in Occupied Europe. They will move to a new corporate headquarters in [[Paddington, London, England|Paddington]], London in [[2003]]. |
'''Marks and Spencer plc''' (known also as '''M&S''') is a major [[United Kingdom]] [[plc]] retailer concentrating on clothing and food. They also have international outlets. The headquarters of M&S is currently in [[Baker Street, London]]; during [[World War II]] these offices were used by the [[Special Operations Executive]] for secret missions in Occupied Europe. They will move to a new corporate headquarters in [[Paddington, London, England|Paddington]], London in [[2003]]. |
||
The original firm was a chain of "penny bazaars", founded by Thomas Spencer and a Jewish immigrant, Michael Marks. It became a household name thanks to the efforts of Marks' son, [[Simon Marks]], and his friend, [[Israel Seiff]]. |
The original firm was a chain of "penny bazaars", founded by Thomas Spencer and a Jewish immigrant, Michael Marks in [[Wigan]]. It became a household name thanks to the efforts of Marks' son, [[Simon Marks]], and his friend, [[Israel Seiff]]. |
||
Marks and Spencer made their reputation in the [[20th century]] on a policy of only selling British-made goods, relying on quality rather than price to encourage custom. |
Marks and Spencer made their reputation in the [[20th century]] on a policy of only selling British-made goods, relying on quality rather than price to encourage custom. |
||
Revision as of 17:57, 5 January 2003
Marks and Spencer plc (known also as M&S) is a major United Kingdom plc retailer concentrating on clothing and food. They also have international outlets. The headquarters of M&S is currently in Baker Street, London; during World War II these offices were used by the Special Operations Executive for secret missions in Occupied Europe. They will move to a new corporate headquarters in Paddington, London in 2003.
The original firm was a chain of "penny bazaars", founded by Thomas Spencer and a Jewish immigrant, Michael Marks in Wigan. It became a household name thanks to the efforts of Marks' son, Simon Marks, and his friend, Israel Seiff.
Marks and Spencer made their reputation in the 20th century on a policy of only selling British-made goods, relying on quality rather than price to encourage custom. During the 1980s and 1990s, they went back on this policy. Financial troubles and their inability to appeal to younger customers did not alter the general trend. However, in 2001, with changes in their business focus such as the introduction of the "Per Una" clothing range designed by George Davies, accompanied by a redesign of their underlying business model, profits rose sharply and M&S recovered much of its market share. Other changes to tradition included accepting credit cards and opening their stores on Sunday occasionally.
They attempted to break into the US market, and also into the French market. This latter was particularly unsuccessful, and eventually they were forced to close all their French stores, though because of the legislation set in place by the French government to protect their labour force, this was a costlier exercise than the Marks and Spencer management anticipated.
They tradionally sold clothes from 2 or 3 large British clothing manufactures, using labels such as "St. Michael".