Company Overview/ Introduction
Marks and Spencer are a multinational British company established by Michael Marks when he opened a penny bazaar market stall in Leeds in 1884. The organisation as we know it today was established 10 years later when Marks entered into partnership with Thomas Spencer. Since then the organisation has grown to be considered one of the leading retailers within the United Kingdom with over 1,433 stores worldwide and a growing website providing customers with a wide range of quality clothing, homemade food and home wear products. The food business is the now the largest sector within the Marks and Spencer company bringing in over 60% of the company's overall turnover and clothing and home wear bringing in the other 40%. Due to the huge success of the M&S food range there is now 383 franchised and 253 owned simply food stores allowing for …show more content…
The success of the M&S brand on a worldwide level creates a geographical diversification which creates a sense of stability for the organisation. The ability of the brand to enter, establish and develop themselves in key markets such as India and Hong Kong show the strength and potential that the Marks and Spencer brand holds. M&S is an iconic British brand that obviously holds the loyalty of their customers. Regardless of the 10-year continual profit loss suffered by the Marks and Spencer clothing brand they still hold the market share after a highly successful Christmas in 2017. (retail economics.co.uk). This level of loyalty has obviously developed through their ability to maintain their quality and value throughout the recession, showing great pride in their brand. This is also clear through the food brand growing from strength to strength through achieving growth with each financial quarter (Marks and Spencer,2015).
Marks and Spencer are a multinational British company established by Michael Marks when he opened a penny bazaar market stall in Leeds in 1884. The organisation as we know it today was established 10 years later when Marks entered into partnership with Thomas Spencer. Since then the organisation has grown to be considered one of the leading retailers within the United Kingdom with over 1,433 stores worldwide and a growing website providing customers with a wide range of quality clothing, homemade food and home wear products. The food business is the now the largest sector within the Marks and Spencer company bringing in over 60% of the company's overall turnover and clothing and home wear bringing in the other 40%. Due to the huge success of the M&S food range there is now 383 franchised and 253 owned simply food stores allowing for …show more content…
The success of the M&S brand on a worldwide level creates a geographical diversification which creates a sense of stability for the organisation. The ability of the brand to enter, establish and develop themselves in key markets such as India and Hong Kong show the strength and potential that the Marks and Spencer brand holds. M&S is an iconic British brand that obviously holds the loyalty of their customers. Regardless of the 10-year continual profit loss suffered by the Marks and Spencer clothing brand they still hold the market share after a highly successful Christmas in 2017. (retail economics.co.uk). This level of loyalty has obviously developed through their ability to maintain their quality and value throughout the recession, showing great pride in their brand. This is also clear through the food brand growing from strength to strength through achieving growth with each financial quarter (Marks and Spencer,2015).