Marks & Spencer – Corporate profile
UK Company overview
We are one of the UK's leading retailers, with over 21 million people visiting our UK stores each week. We sell high quality, great value clothing and home products and outstanding quality food. We source our products responsibly from 2,000 suppliers around the world. Over 76,000 people work for Marks & Spencer both in the UK and in 41 territories overseas, where we have a growing international business.
Our core values of Quality, Value, Service, Innovation and Trust are as important today as they were when Marks & Spencer was founded over 125 years ago. Marks & Spencer currently has 701 stores in the UK.
With more than 1 in 10 clothing items bought from Marks & Spencer, we remain the UK's largest clothing retailer and the first choice for stylish, great value clothes for the whole family. We lead the market in womenswear, lingerie and menswear and have an expanding kidswear and home business.
Our UK business has a broadly even split between General Merchandise (clothing and home) and Food. We are the UK's leading provider of high quality food, selling everything from fresh produce and groceries, to partly-prepared meals and ready meals and an award winning range of wines. Underpinning this is our commitment to healthy easting, ethical sourcing and innovation.
Marks & Spencer's International business
Marks & Spencer currently has 337 stores in 41 territories overseas. We plan to target International sales (excluding the Republic of Ireland) of between £800m to £1.0bn by 2013/14.
Our emphasis will be on franchise operations, building stronger partnerships in each territory. We will use a Joint Venture or wholly-owned model in selected markets where it is appropriate.
Instead of 'planting flags' we aim to build a leadership position in priority markets. We have already built a strong presence in markets like Turkey and the Czech Republic by opening a flagship store surrounded by a cluster of smaller, supporting stores. We will continue to build local leadership in core markets in this way. We will also enter selected countries with our on-line capability to complement our stores on the ground, setting up tailored websites for specific local markets from 2013.
Marks & Spencer's Joint Venture with Reliance Retail
Marks & Spencer Reliance India Pvt. Ltd is a Joint Venture between Marks & Spencer plc and Reliance Retail, part of the Reliance Industries Group. The Joint Venture was formed in April 2008 with the goal of establishing Marks & Spencer as a major retail brand in India.
Marks & Spencer has a 51% interest in Marks and Spencer Reliance India Pvt. Ltd and Reliance Retail taking the remaining 49%.
Marks & Spencer Reliance India Pvt. Ltd has the right to operate Marks & Spencer stores in India, selling items such as women's, men's and children's clothing as well as homeware.
Marks & Spencer Reliance India operates 20 stores in India including the new stores at DLF Promenade and Terminal 3, Indira Gandhi International Airport, Delhi.
