M&S to see "departure" of sourcing chiefs?
UK retailer Marks & Spencer may see a shake-up of its sourcing team with the potential departure next year of two senior executives who have overhauled the group's supply chain.
M&S chief executive Steve Rowe is understood to be in the early stages of reviewing whether the contracts of brothers Mark and Neal Lindsey should be extended when they expire next spring, according to Sky News.
A spokesperson for Marks & Spencer declined to comment on the reports but sources told Sky News that their departure would be significant because it would imply the retailer has eked out the majority of the potential cost-savings generated by improving the efficiency of its supply chain.
It could also highlight a greater confidence among Rowe's top team that M&S has built a more successful in-house sourcing function.
The former Next Sourcing executives joined M&S in 2014, and have helped the retailer get better deals with suppliers by cutting out middlemen. The retailer has also established a number of in-country teams to stimulate competition between clothing suppliers in a bid to encourage more efficient output, better designs and lower cost-price contracts.
Rowe, who replaced Marc Bolland as chief executive in April, is expected to announce the conclusions of his initial review of the business this week.
Turning around its clothing and home businesses is a priority, Rowe said last month, as the UK retailer revealed lower sales for the division in its fourth-quarter.
Earlier this month he made a number of changes to its management structure in order to drive "speedier decision making", including the formation of an operating committee to oversee business development and strategy.
Trainers have had something of a revival in the fashion world over the last few years, from glittering versions on the Chanel catwalk to minimalist versions....
In 2015 womenswear saw negligible current value growth in the UK; however, in volume terms growth of 2% was seen, suggesting that value continues to be an important factor for women....
In the UK, consumers continue to purchase apparel and footwear from a host of so-called fast fashion retailers, in which prices are low, stock turnaround is rapid and catwalk trends are emulated in hi...
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- US apparel retailers' November 2016 sales roundup
- Trump blows the case for Brexit out of the water
- Why do modern robotics elude sportswear makers?
- Esquel efficiency drive continues to boost brands
- Taiwan textile maker investing in first US plant
- US Q3 in brief – Sears, Vince Holding, Genesco
- Myanmar garment industry "lacking labour rights"
- Outdoor apparel sector set for double-digit growth