Editor’s Comment: M&S fashion was on the right path – until lockdown hit
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Marks & Spencer’s strategy for returning its clothing sales to growth has been derailed by the pandemic and the distraction of a looming deal to acquire Jaeger.
When Richard Price joined Marks & Spencer as managing director of clothing and home last year, he had a clear idea of where to take the division. His strategy was a continuation of that put in place by CEO Steve Rowe: more curated, deeper buys; a focus on quality and reduced discounting; cautiously introducing third-party brands; and rapidly improving the online business.