By James Davey 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
M&S Targets Faster Fashion Cycles with Monthly Capsule Collection Launch
M&S Accelerates Fashion Delivery and Online Growth Strategy
By James Davey
Monthly Capsule Collections: A New Approach
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 Time to Market
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 WANTS TO DRIVE ONLINE GROWTH
Features of the Monthly Capsules
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.
Online Sales Targets
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.
Leadership Perspective
"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.
Challenges and Market Context
Recent Setbacks
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.
Share Performance and Investor Concerns
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.
($1 = 0.7473 pounds)
(Reporting by James Davey. Editing by Mark Potter)
