M&S is doubling down on brands strategy, sees £1bn potential
M&S
The company is currently co-leader of a select group of big names — of which Next
The Telegraph reported that the latest step in M&S’s rivalry with Next — and with mid-market department store John Lewis
Back in November, it announced that Ted BakerSuperdryLyle & Scott
It said the management team at the retailer believes third-party sales could reach £1 billion, a significant increase on its earlier, medium-term goal of £400 million in third-party brand sales. In the latest quarter, non-M&S labels made up around 8% of its e-sales, adding up to almost £30 million. So there’s clearly a long runway for growth here.
The third-party push will include beauty, sports and home, but fashion is currently the key category in the area.
M&S’s drive to sell a wider spread of labels is being accelerated by ex-Amazon
The retailer also told the newspaper that its approach is different to that of Next (which has doubled its third-party brands to 1,000 in three years), with M&S taking a more curated approach.
