Marks and Spencer 2010 Annual Report Download - page 25

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Overview p01
Performance & KPIs p14
Brand & marketplace p20
Operating & financial review
Governance p50
Financial statements p78
To find out more, visit marksandspencer.com/annualreport2010 21
What we sell
Menswear
Menswear value market share
10.4%
+0.2% pts
Menswear volume market share
13.0%
Level
We remain the market leaders in menswear and this year have grown market
share by 0.2% to 10.4% by value and maintained 13% by volume. Our leadership
position is underpinned by our ongoing commitment to quality, value, and
innovation. This year we have focused on improving our style credentials,
sharpening our market leading tailoring offer and brands. As a result we have
broadened our customer base both in terms of age and lifestyle.
Innovation
Continued innovation has helped maintain
our position as market leaders. This year we
developed Bodymax, a revolutionary range
of shapewear for men. Products contain a
hidden ‘stomach control panel’ to help
create a slimmer silhouette. The range lends
itself to the slim-fit styles we’ve translated
from the catwalks.
Design
Designer collaborations offer our style
conscious customers key seasonal pieces
that are affordable and great quality.
Our collaboration with leading London
based designer, Jsen Wintle, combined the
contemporary Autograph look with the
designer’s use of subtle colours and couture
cuts. To mark our 125th anniversary we
celebrated the best of British tailoring with
our 125 Collection, designed by Savile Row
tailor Timothy Everest.
Accessories
This year we have seen a move to outfit
building and believe accessories and
footwear offer a growth opportunity.
We are market leaders in
formal tailoring, with a 20%
market share and this year
we have focused on delivering
a stylish formal footwear range,
with a view to bringing our
footwear market share in line.
Looking ahead
With clear brands in place we remain on
track to grow our Menswear business.
We will continue to refine our ranges to
ensure we are offering what our customers
want. Quality is increasingly important to our
menswear shoppers and we will continue to
drive innovation to ensure M&S remains not
only good value, but delivers something
extra special.
Our brands
This year we have used lessons from
womenswear, to help us refine our
menswear portfolio to ensure it meets
the needs of all our customers.
Autograph This collection is sharp and
contemporary and throughout the year we
have used designer collaborations to inject
freshness into the brand.
Blue Harbour We have taken Blue Harbour
back to its roots, providing classic casual
styles aimed at our core customer.
Collezione In February we re-launched
Collezione, reviving its Italian inspired origins.
Designed to help men pull together a
sophisticated, co-ordinated wardrobe,
it has been extended to include leisurewear
and accessories.
Limited Collection Following a successful
trial in January, the brand will roll-out during
2010. Focused on tailoring, it provides fast
fashion suits with a modern, slim silhouette
aimed at a younger male customer.
North Coast Re-launched this year to
address a similar need for casualwear as
Indigo Collection has in womenswear.
Focused on soft colour palettes, knitwear
and denims, its revamp has strengthened
our position in the casualwear market.
Responding to customers
With M&S comes an expectation of quality
and in Menswear this extends across our
fabrics, styling and fit. This year, some of our
customers told us they loved our shirts but
wanted a slimmer fit option. In response we
worked with our tailors to deliver a slim-fit
range and within a week of launch, two
of our new shirts were among our top five
best-sellers, delivering incremental sales.
We have now introduced a slim-fit cut to
other ranges, including tailoring and denim.
Above: Before the gym kicks in The post-
Christmas launch of our Bodymax Shaping Vest
grabbed the media’s attention, featuring on the
front page of the Daily Telegraph and even making
waves Down Under, with a ten minute slot on the
product featured on Australia’s Channel Nine.
INNOVATION
Above: New face in Menswear In March 2010,
Jamie Redknapp was named as the new face
across our menswear range.