Marks and Spencer 2009 Annual Report Download - page 33

29
Lingerie value market share
25.2%
+0.4% pts
Lingerie volume market share
19.1%
+1.2% pts
125 YEARS OF INNOVATION
Number of inches taken off British waistlines
250,000
Left: We’re famous for our shapewear, with our
magic knickers taking 250,000 inches off the
waistlines of British women last Christmas. Our
shapewear is obviously effective, but in 2009/10
we’ll be focused on making it stylish and pretty too.
125 YEARS OF QUALITY
Above: Vintage style During 2008/09 sales of the
teddy and corsetry rose as women – and men –
rushed to buy into the trend for yesteryear fashion.
Luxurious silk bras and basques in feminine,
dusky shades, and beautiful champagne-coloured
silk and lace pieces, flew off the shelves.
Our brands
The slogan ‘Every Woman, Every Time’
continues to encapsulate our approach to
lingerie. M&S remains a destination shop for
every British woman’s lingerie needs: we sell
nearly two pairs of knickers every second;
28 million pairs of tights every year; and one
in three British women wear an M&S bra.
We were also In Style magazine’s Best Shop
for Lingerie in 2008.
We have continued to refresh and broaden
our ranges during the year to ensure our brands
offer a well-balanced collection to suit different
needs and tastes. As part of our segmentation
work we have reduced duplication and filled
gaps in ranges. By simplifying our lingerie
offer, our branding now clearly signposts
each collection.
‘Adored’ classic feminine styles in soft
fabrics that offer exceptional comfort.
‘Autograph’ a sophisticated collection that is
beautifully designed and finished. ‘Body Solutions’
modern and streamlined, this beautifully soft
lingerie gives a sleek silhouette. ‘Ceriso’ fun,
flirty and inspired by catwalk trends. ‘Limited
Collection’ fashionable styles
in stretchy fabrics designed for mixing and
matching. ‘per una’ pretty everyday styles
in soft fabrics and feminine colours.
Availability
High sales volumes mean we have to manage
our stock tightly, ensuring we never sell-out of
key lines. This is especially the case for products
such as opaque tights – where sales have
grown by 50% on the year. Hosiery is a
proven key footfall driver, with customers
buying stockings and tights likely to buy
something else while in-store.
Newness
Over the past year we have worked with our
manufacturers in Sri Lanka, China and Turkey
to enable us to make bras in just eight weeks,
reducing a typical 20-plus week lead time.
This is a milestone for us, with the quicker
turnaround time giving us greater flexibility to
produce fashion-forward items, and respond
to customer demand.
Innovation
Cellulite-busting tights and a memory foam
bra are just two of the innovative additions
we made to our lingerie collection this year.
We will continue to innovate, taking a more
rigorous and methodical approach so that
we phase-in key innovations on a quarterly
basis throughout the year.
Looking ahead
Our approach to lingerie is about being clear
and confident. Attention will be focused on
branding and segmentation, as well as value
and availability, to ensure we have the right
product for every customer.
BRAND FOCUS: LINGERIE
ADORED CLASSIC, COMFORTABLE STYLES
AUTOGRAPH HIGH QUALITY SOPHISTICATION
BODY SOLUTIONS MODERN AND SLEEK
CERISO TRENDY, FUN AND FLIRTY
LIMITED COLLECTION MIX & MATCH FASHION
PER UNA FEMININE AND PRETTY
Lingerie: In an increasingly competitive market, M&S lingerie is
still the UK’s first choice. Over the year we grew our value market
share to 25.2% from 24.8% and volume share to 19.1% from
17.9%. By reducing our lead times to just eight weeks we
have been able to stay a step ahead of the market and refresh
our ranges regularly. This strategy will continue in 2009/10.
125 YEARS OF INNOVATION
Below: We boobed It’s true… our larger bras
cost more money to make, and we felt it was
right to reflect this in the prices we charged.
We were wrong, and have since reduced the
price of our larger bras by up to £2.