Blog: Leonie BarrieA 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.

UK: M&S Names Stuart Rose CEO


BLOG

Levi Strauss leads on green supply chain in China

Sustainability remains top of mind for the industry with Levi Strauss, Adidas and C&A ranked amongst the leading brands to have made progress in environmental supply chain management in China over the...

BLOG

UK clothing exports to US to be hit by further 25% duties

Cashmere jumpers, anoraks and swimwear made in the UK and exported to the US are among products being hit by an extra 25% tariff as part of the ongoing dispute between the US and the EU over aircraft ...

BLOG

New US trade trends taking shape?

In a reversal of trends seen in July, the three Central American countries that are the largest suppliers of clothing to the US – Mexico, El Salvador and Honduras – saw a dramatic fall in shipments in...

BLOG

Weaving a new vision for US denim

The closure of the last US selvedge denim mill two years ago might have marked the end of an era. But thanks to the vision of Daniel Feibus and his team, the original looms have found a new home at Vi...

just-style homepage



Forgot your password?