Marks & Spencer is set to invest hundreds of millions of pounds in an effort to revamp its stores and set its own-brand offerings apart from rivals.
Chief executive Mark Bolland has reportedly set £600m aside for the overhaul, which comes after previous boss Sir Stuart Rose spent £2 billion on transforming the company’s image. So-called “shops within shops” will be dedicated to re-launched brands including Per Una and Autograph.
Mr Bolland is understood to be keen to strengthen public perception of M&S products and a new Autograph advertising campaign has already been launched. The firm’s food division will also be given a facelift, with more than 100 international brands to be sold at M&S shops and new delicatessen counters added.
Some aspects of the scheme have been included in the firm’s new store at the Stratford Westfield shopping centre, which is poised to open its doors for the first time tomorrow.
Rival Waitrose announced today that it is to open convenience stores at 100 Shell petrol stations across the UK as part of an attempt to broaden its customer base.
