Marks & Spencer (M&S)
Company name: Marks & Spencer Group Plc
Brand value: US$1,778 million
Change since 2019: -28%
Headquarter city: London
Year formed: 1884
Marks & Spencer is one of Britain’s leading national retailers and is best known for its own-brand clothing, homeware and food. Food has been the powerhouse of the business in recent years, and its standalone “Simply Food” small-supermarket outlets are popular in high-traffic locations. In its most dramatic and high-risk shift in years, M&S struck a US$950 million deal for a 50 percent stake in online grocer Ocado. The agreement will instantly make M&S a real force in UK grocery e-commerce, an area in which it had previously had no presence. During the COVID-19 outbreak, M&S launched online food boxes aimed at providing essentials to vulnerable people.
M&S is repurposing many stores, closing unprofitable ones and upgrading operations. In a push to promote its clothing range, jumpers rather than celebrities were the stars of the brand’s 2019 Christmas TV ad, and in early 2020, M&S unveiled its first-ever standalone ad focused on denim in the leadup to the launch of its “Magic Jean” for women. M&S has also expanded into sportswear with a “Goodmove” range aimed at women.