Blog: A right royal battle
Leonie Barrie | 1 June 2004
It seems the widespread criticism of Marks & Spencer’s management team has finally been taken to heart by the board (see previous blog). Often panned for its layers of bureaucracy and inability to make speedy decisions, M&S yesterday threw down the gauntlet and effectively declared war on a £10 billion takeover bid by retail tycoon Philip Green. Stuart Rose has been brought in to take charge as the retailer sharpens up its act. So now it’s Rose, nicknamed the King Midas of British retailing for his golden touch when it comes to reviving struggling retailers, pitted against 'King of the High Street' Green who owns both Bhs and Arcadia.
The addition of Rose is considered a major coup, particularly with his experience in clothing retailing. Speaking on BBC Radio 4's Today programme this-morning he said he wanted to restore M&S’s reputation for “good quality, good value, good service and innovation.” Whether Rose will be able to pursue this goal remains to be seen however, as he hasn’t been able to see off hostile bids in the past. Instead, he’s managed to squeeze out extra value for shareholders, which in itself is no mean feat. Green now faces a much tougher task in launching a successful takeover, and with its new appointment M&S has sent out a clear signal that it intends to put up a strong fight.
Over the past month, Donald Trump and his team failed to offer any clear plan to ensure Americans would "Buy American, Hire American" - while the British government's attempts to clarify the specifics...
The Bangladesh government was forced to respond late last week to pressure over its crackdown on labour activists after a number of global brands and retailers, including H&M and Inditex announced pla...
Fresh from their disappointment at seeing the Trans-Pacific Partnership (TPP) free trade deal abandoned last month with an executive order by President Donald Trump, the US apparel and footwear sector...
With the ultimate aim of ensuring all the cotton in its products is sourced sustainably, value clothing retailer Primark is adamant that having a business model focused on offering the lowest prices o...
- Li & Fung eyes speed, innovation & digitalisation
- Digitalisation and data to disrupt supply chains
- 3D CAD comes of age
- EU eyes mandatory due diligence for apparel supply
- Unlocks for the future fashion sourcing landscape
- Li & Fung forms supply chain partnership with PVH
- Big data to help US firms improve clothing fit
- Labour rights risk Bangladesh EU trade benefits?
- Apparel group Sae-A opens second school in Haiti
- US Q4 in brief – G-III Apparel, Finish Line
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Outdoor performance apparel 2016: A broader perspective
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack