Ailing food-to-apparel retail giant Marks & Spencer, which until 1998 was widely believed to walk on water, hopes to claw back some of its lost sales with the opening of three cut-price stores branded Marks & Spencer Outlet.
All three Outlets will be operational by Christmas, sited respectively in Kent, Cheshire and Scotland. The merchandise on offer will be priced at least 30% below M&S’s other 297 UK stores and, if successful, the concept will roll-out in 2001 to a dozen or more new sites.
In a separate move, recently appointed chairman Luc Vandevelde hopes to reverse the chain’s dramatic decline by personally visiting every one of M&S’s stores to talk with staff and customers. In this way, he and his board believe they will learn the public’s true perception of the M&S brand.
News Source: CampaignLive (UK)