Essay Preview: M&S
Report this essay
Marks & Spencer is known as M&S, which is one of the UKs leading retailers of clothing, foods, homeware and financial services. M&S is now serving around 10 million customers a week in over 300 UK stores. Michel Marks is the first establisher.Michal Marks in Leeds borrowed loan of ÐЈ5 from Issac Dewhirst, a wholesaler in order to establish “Penny Bazaars”, which founded in 1884 by a Russian-born Polish-Jewish immigrant. One of the original Penny Bazaars is in the Grainger Market, Newcastle upon Tyne. These stores now remain open. Marks first full store was opened in 1894 at Stretford Road, Hulme, in Manchester. Marks want to expand his business so he decided to enter into a partnership with Thomas Spencer, who was working as Dewhirst cashier. The official first Marks and Spencer store opened in 1904. Then Michael Marks and Thomas Spencer passed away, the title of Chairman went to Marks son Simon Marks. Simon Marks started to work with his friend Israel Sieff. Marks and Spencer grew to become a household name. Marks and Spencer became a Limited Company. In 1926 the company then started selling textiles.
In 1928 the St Michael Trade Mark was registered. In 1930 M&S opened a flagship store at Marble Arch, London. Then CafД© Bars were introduced in many stores. These provided cheap, hygienic and nutritious mass catering. In 1931, a food department was introduced to market. In 1956, all goods were sold under the St Michael label. In 1964, Simon Marks died, and then Israel Sieff took over as Chairman.
In 1974, Asian food was introduced into the stores. M&S opened up stores in Europe in 1975, then four years later in Ireland. By 1999, M&S also continues to develop to serve globalization by creating an online shopping website, which is www.marksandspencer.com. Also, up until late 2002, the company also had international distribution of stores to trade with 30 countries around the world.