UK: Marks & Spencer denies supplier row
Marks & Spencer chief executive Marc Bolland has denied reports that the retailer is in a row with its suppliers over plans to make them contribute to its store revamp scheme.
The retailer's suppliers were asked in September to contribute to the GBP600m UK store upgrade by putting 1.25% of their annual turnover with the retailer towards the scheme.
However, there have been reports that some suppliers have refused to contribute.
"Don't create something that is not there," said Bolland, adding that M&S has the "best relationship with suppliers in the industry".
He said the response to the plans was "extremely positive" with 80% of suppliers coming up with "very positive ideas" on where they can innovate. He said the moves will also allow the suppliers to invest in product development, which will enable them to grab market share.
General merchandise executive director Kate Bostock backed up Bolland saying the retailer took a lot of time to talk through the strategy with some 60 general merchandise suppliers who "recognised the opportunity" in international and e-commerce. "Every single one has come to the party," she said.
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