Marks & Spencer
- Cyriac George
- November 12, 2026
- 11 Minutes
Marks & Spencer, commonly known as M&S, is a British retailer specialising in own-brand food, fashion, beauty, homeware and associated services. Founded in 1884, the company has grown from a market stall in Leeds into one of the United Kingdom’s most recognisable retail institutions, serving millions of customers through stores, digital channels, international partnerships and its involvement in Ocado Retail. Its identity has long been shaped by a straightforward promise: to combine dependable quality, thoughtful innovation, practical value and products designed for everyday life.
Today, M&S employs approximately 64,000 colleagues and operates 1,059 owned and franchise stores in the United Kingdom. Its international business reaches around 70 markets, supported by hundreds of stores and dozens of country-specific websites. During the financial year ending in March 2026, the group reported statutory revenue of approximately £17.3 billion, a figure that included the consolidation of Ocado Retail from April 2025. These numbers place M&S among Britain’s largest multi-category retailers, but its cultural significance extends well beyond its commercial scale.
From a Penny Bazaar to a National Institution
The M&S story began in 1884 when Michael Marks opened a stall at Kirkgate Market in Leeds. An immigrant who had arrived in northern England with limited resources and little command of English, Marks developed an accessible retail proposition around clearly priced household necessities. His now-famous slogan, “Don’t ask the price, it’s a penny,” removed uncertainty from the shopping experience and made his stall particularly appealing to customers looking for useful goods at transparent prices.
As the business expanded, Marks entered into partnership with Thomas Spencer in 1894. Spencer had worked as a cashier for the wholesaler Dewhirst and brought financial organisation and commercial experience to the enterprise. The partnership established the Marks & Spencer name, while the company was formally registered as a private limited company in 1903. The Penny Bazaar principle gradually developed into a more structured chain of permanent shops, creating the foundations of a modern national retailer.
A decisive new chapter began under Michael Marks’s son, Simon Marks. Working closely with Israel Sieff, Simon helped transform the company from a collection of value-oriented bazaars into a professionally managed high-street retailer. The business began buying more directly from manufacturers, developing merchandise to its own specifications and building close relationships with suppliers. Marks & Spencer Limited became a public company in 1926, providing the structure and capital needed to continue its expansion.
St Michael and the Meaning of Quality
One of the most important developments in M&S history was the introduction of the St Michael trademark in 1928. Named in honour of Michael Marks, it appeared initially on a limited selection of textiles made according to M&S specifications. Rather than functioning merely as a decorative label, St Michael acted as a visible promise that a product had met the retailer’s standards for quality and value.
The trademark was gradually extended across clothing, household goods and food. By 1958, all merchandise sold by M&S carried the St Michael name. Its success helped establish a model in which customers trusted the retailer itself as much as, or sometimes more than, the individual manufacturer. Although M&S later returned to using its corporate name more prominently on products, the principles represented by St Michael continued to influence its approach to design, sourcing and quality control.
The company also became notable for its investment in product science. In 1934, M&S established a scientific research laboratory to test garments and investigate new fabrics. Thousands of tests were conducted on qualities such as washability, durability and wear, helping the company translate technical research into practical improvements for customers. A dedicated Food Technology department followed in 1948, strengthening the company’s ability to work with farmers, producers and suppliers on food quality and development.
The Development of M&S Food
Food became a formal part of the M&S business in 1931, when departments selling produce and canned goods were introduced. The range expanded rapidly during the following years, eventually developing into one of the retailer’s defining businesses. M&S Food built its reputation not by attempting to replicate a conventional full-range supermarket, but by concentrating on own-brand quality, product innovation, freshness, convenience and distinctive recipes.
Over successive decades, M&S explored new approaches to prepared meals, international flavours, frozen products and convenient food formats. Indian and Chinese ranges were introduced in the 1970s, while the growth of ready meals and food-to-go products reflected changing patterns in British working and family life. The launch of Simply Food stores in 2001 gave the food business a more flexible format that could operate in railway stations, high streets, retail parks and neighbourhood locations.
Food remains central to the modern company. In 2025/26, M&S Food generated sales of approximately £9.7 billion, while its share of the UK grocery market reached around 4.1 per cent. The company attributes its customer appeal to quality, freshness, innovation and value, supported by a predominantly own-brand proposition and close supplier relationships.
Fashion, Lingerie, Beauty and Home
M&S fashion is built around wearable style rather than short-lived novelty. Its ranges cover womenswear, menswear, childrenswear, lingerie, footwear and accessories, complemented by beauty and home collections. At its best, the M&S approach combines familiarity with contemporary design: recognisable wardrobe pieces are reconsidered through updated proportions, fabrics, colours and styling rather than replaced by an entirely different aesthetic every season.
The company has an especially important position in British lingerie. Its long experience in fit, sizing and product development has made underwear one of the strongest elements of its fashion identity. Denim, knitwear, tailoring, coats, dresses, nightwear and everyday separates are also central to the offer, allowing the retailer to serve customers across different ages, lifestyles and occasions.
M&S has increasingly presented fashion as an edited, coordinated proposition. Rather than relying solely on the breadth of its assortment, the company has placed greater emphasis on clearer seasonal stories, stronger hero products and improved presentation across stores, its website and its app. By 2026, M&S reported a 10.2 per cent share of the UK fashion market, reflecting the considerable reach of its clothing business.
The appointment of John Lyttle as Managing Director of Fashion, Home & Beauty in 2025 introduced further retail and operational experience to the division. Lyttle previously served as chief executive of Boohoo Group and spent nine years at Primark, including as chief operating officer. At M&S, his remit encompasses the continued development of the company’s fashion, home and beauty businesses.
An Own-Brand Retailer with a Curated Marketplace
M&S continues to describe itself primarily as an own-brand retailer. This distinction is important: much of its value lies in products conceived, developed or sourced specifically for the company rather than in simply reselling widely available merchandise. Its supplier relationships therefore play a central role in turning design ideas into products that meet M&S requirements for performance, quality and value.
At the same time, the company has introduced selected external labels through Brands at M&S. The purpose of the programme is to complement rather than replace the own-brand offer. Partners have included fashion, footwear, sportswear, beauty and lifestyle names chosen to broaden customer choice and make the M&S website a more complete shopping destination. Early company reporting showed that more than one million customers had shopped through Brands at M&S within its initial growth period.
This combination of own-brand authority and carefully chosen partners allows M&S to retain a recognisable identity while responding to the way customers increasingly shop across categories and labels.
Stores, Digital Retail and Ocado
Physical stores remain an essential part of the M&S experience. They allow customers to examine fabrics, obtain fitting advice, discover food products and shop across several categories during a single visit. The company has been reshaping its estate around larger, more productive full-line stores and modern Foodhalls, with an emphasis on convenient locations, clearer layouts and improved presentation. M&S has stated a longer-term ambition to operate approximately 180 high-quality full-line stores alongside an expanded food estate.
Digital retail now works alongside the store network. The M&S website and app bring fashion, beauty, home and selected partner brands together, while services such as click and collect connect online ordering with local stores. The company reported that its app accounted for 58 per cent of online orders in its 2026 key performance information, illustrating the growing importance of mobile shopping within the M&S customer relationship.
Online grocery is delivered through Ocado Retail, a business owned equally by M&S and Ocado Group. M&S products became available through Ocado in 2020, combining the retailer’s food ranges with Ocado’s technology and fulfilment network. From 6 April 2025, Ocado Retail’s results began to be consolidated into M&S group reporting, although ownership remained divided equally between the two companies. During 2025/26, sales of M&S products through Ocado exceeded £1 billion.
Plan A and Products Designed for a Longer Life
M&S launched Plan A in 2007 as a framework for bringing environmental and social considerations into its commercial decision-making. The programme has developed over time, with the company now working towards net-zero emissions across its value chain by 2040 while addressing areas including materials, packaging, waste, responsible sourcing and product circularity.
A visible part of this work is Another Life, which brings together services intended to extend the use of clothing and beauty packaging. In 2024, M&S introduced an online clothing-repair service with SOJO, offering work such as zip replacements, alterations and knitwear repairs. The company has also provided repair guidance online, continued its longstanding clothing-donation relationship with Oxfam and expanded beauty-packaging collection points in partnership with HANDLE.
These projects are particularly relevant to the M&S philosophy because durability has long formed part of the brand’s reputation. Repair, resale, recycling and responsible product care provide contemporary ways of expressing the older principle that well-made products should remain useful for as long as possible.
Leadership and the Future of M&S
M&S is led by Chief Executive Officer Stuart Machin, who assumed the role in May 2022 after serving as joint chief operating officer and managing director of the Food business. His career spans more than three decades across food, fashion and home retail. Archie Norman, appointed Chairman in September 2017, brings extensive experience in retail transformation and corporate governance. In 2025, the board announced an extension of Norman’s chairmanship in principle from September 2026, subject to annual review and shareholder approval.
The company’s current direction is centred on creating exceptional products, generating sustainable sales growth, investing in stores and supply chains, improving digital capabilities and building a more efficient organisation. M&S refers to this programme as “Reshaping for Growth” and, more recently, “Reinvesting for Growth.” The terminology may evolve, but the underlying ambition is consistent: to preserve what customers value about M&S while strengthening the systems needed to serve them in a modern retail environment.
More than 140 years after Michael Marks opened his first stall, M&S remains distinctive because it participates in several parts of everyday life at once. It can provide a customer’s workwear, lingerie, evening meal, skincare, bedding and gifts, yet each category is connected by the same broad expectations of quality, practicality and trust.
That continuity is the heart of the Marks & Spencer story. The company has changed its stores, labels, technologies and product ranges many times, but its most enduring purpose remains recognisable: to make well-considered products accessible to a broad customer base and to bring a little more quality, confidence and enjoyment to everyday shopping.
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