British clothing line Marks & Spencer have been facing financial problems for quite some time. Fashion critics believe that the brand has lost its ability to lure in its female customers. But the brand’s famous pink coat in September 2013 and suede mini skirt from May 2015 tell a different story.
Despite of the success of its miniskirt and pink coat and receiving constant strong reviews over the last three years, after Belinda Earl became the style director of the brand – clothing sales have only decreased. Out of the last 17 quarters, sales have declined in 16 of them. On the contrary, while sales are declining, profit margins are constantly going up which is obviously a sign of relief for the investors.
Marks & Spencer is working on fashion as a strategy
M&S is putting all hopes on its fashion department because even though profit margins are increasing, number of customers are decreasing and that is not a good sign for the brand. That is why M&S has given Queralt Ferrer the overall responsibility of its design department. Ferrer is a chic Spaniard who has been the head of design for some of the biggest British labels.
Coming from a strong business background, Ferrar has also worked with Inditex, the owners of Zara. But more than her experience, it is her understated and sophisticated aesthetic that stands out in this world full of high street traders.
When asked about why M&S persists for all the fanfare during press days when the positive criticism by fashion editors obviously doesn’t translate into a successful line, Belinda Earl said “We feel we are getting the clothes right, and what we need to do now is take what happens at these press days right down the chain,”.
Trading director, Jo Jenkins stated that the brand will be focusing on buying more of the really great pieces. Earl also discussed that it’s important to focus on the smaller stores of the brand and make sure they are receiving all the new pieces on time. “This season we’ve got a £200 leather wrap skirt, and a £200 leather skirt isn’t for everyone, but we need to translate that style in more accessible versions for all our customers,” added Earl.
M&S feels the customers will eventually come in
The Marks & Spencer ’s officials have a habit of referring to their customers in third person. When asked about how the customers are responding towards the increased store dummies designed to show how the clothes work together, head of M&S Collection, Karen Peocock said “She loves a mannequin”.
And when Ferrer was asked whether the customers are embracing the new longer length skirts, she said “She’s getting there”. The brand has completely shifted its focus from trends, catwalks and new seasons, to contemporary and key pieces.
The reason behind it is simple – customers want to invest in clothing pieces that they can wear for a long time. Fast fashion pieces might look alluring but they go out of fashion as fast as they come in.
Marks & Spencer’s fall collection this year looks very inspired from Gucci, Donna Karen and Victoria Beckham.
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