M&S targets faster fashion cycle with launch of monthly capsules

LONDON, March 25 (Reuters) - Britain's ​Marks & Spencer said ⁠its clothing arm will ​introduce monthly capsule collections from Thursday, building on its traditional seasonal drops to get new ​fashions ‌to shoppers more quickly.

Reducing the time it takes to bring new ⁠ranges to market, from supplier to shop floor ⁠or website, is a ​key strand of the strategy M&S outlined to investors last November to boost sales and profit.

The move comes as UK consumers increasingly buy fashion throughout ​the year, ‌rather than just around seasonal peaks.

M&S WANTS TO DRIVE ONLINE GROWTH

M&S said each monthly capsule will feature a 20-to-35 piece collection, including accessories and footwear, "aligned with the latest catwalk looks and emerging ​style trends".

The ranges will launch online and in stores at major ‌city locations such as London, Manchester and Liverpool.

A key target of M&S is for online sales ‌to account for 50% of its total fashion sales, up from about a third currently.

It lags rivals, with Next, for example, making about 60% ​of its UK sales online.

"The programme helps us move from concept to ‌customer at a faster pace to strengthen style perceptions, increase efficiency and drive online growth," said Maddy Evans, director of M&S Woman.

M&S has regained its ⁠footing after ⁠a cyberattack last April paralysed online sales and ‌cost it about 300 million pounds ($401 million) in lost profit.

Shares in M&S are ​broadly unchanged ​year-on-year but have fallen 18% over the past month, ‌reflecting investor concerns that the Iran war could push up energy and other supply costs and dent demand for discretionary goods.

Marks & Spencer

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