Marks & Spencer is reportedly looking into expanding its ‘Brands at M&S’ e-commerce concept as it looks to take on its department store rivals Next and John Lewis.
According to The Telegraph, the retail chain is planning to sell more high street brands alongside its own clothes, with the media outlet reporting that it could be increasing the number of third-party brands from its current 60 to 100.
With the new additions, Marks & Spencer is hoping to significantly bolster its sales, with heads of the company believing they could eventually amount to one billion pounds.
Beauty, sportswear push
While the main focus of growth will be on clothing, the retailer is also said to be considering pushing beauty, sportswear and homeware brands through the platform.
The plan is being led by Nishi Mahajan, a new hire snapped up by the retailer last month, who was poached from Amazon’s fashion business.
It builds on the already well established ‘Brands at M&S’ concept Marks & Spencer introduced two years ago, which saw the likes of Nobody’s Child, Joules and Crew Clothing debut on the platform.
In the three months to the end of December 2022, the retailer reported that the sales of its third-party brands had increased 50 percent.
It comes amid a major restructuring at top rival John Lewis, which last week reported a loss before exceptional items and tax of 78 million pounds, down from a profit of 181 million pounds a year earlier.