Blog: Leonie BarrieGreen declares war on M&S

Leonie Barrie | 16 July 2004

What a difference a day makes. The most extraordinary takeover drama in recent years has ended in defeat for Philip Green after he withdrew his £9.1bn offer for the UK's largest clothing retailer, Marks & Spencer, on Wednesday evening. The six-week battle veered from soap opera to circus with its war of words and pavement tussles, but the final chapter in this particular story has ended in a bit of an anticlimax.

Green has retreated to the beach, and M&S chief executive Stuart Rose has launched a charm offensive in an attempt to repair relations with the retailer’s largest shareholders. But to prove there's nothing like a billionaire spurned, Green has vowed to hit M&S where it hurts by ramping up quality and value at his own shops – Including Wallis, Dorothy Perkins, Burton, Evans, Topshop, Topman, Miss Selfridge and Bhs.

While this strategy is unlikely to dent M&S sales as much as Green hopes (the two groups basically have different target markets), customers are sure to benefit. And if it doesn’t work? Well, under Takeover Panel rules he could return with another bid in just six months’ time – putting even more pressure on Stuart Rose to perform the turnaround he has promised M&S shareholders.


BLOG

Stop negotiating and bring in the engineers

Surviving in a declining market is the biggest challenge for discount/mass-market retailers and suppliers of commodity products such as basic T-shirts, hoodies or cotton men's shirts – which is why it...

BLOG

The implications of buyer purchasing practices

New research has delved into one relatively underexplored aspect of global supply chains: how buyer purchasing practices impact wages and working conditions....

BLOG

just-style readership survey 2017 – Final reminder

We’re currently carrying out a survey to get a better understanding of the issues that matter the most to our readers, and how we can better serve you in the future. ...

BLOG

Why China continues to lead apparel sourcing

On just-style last week we took an in-depth look at why China is expected to retain its leading role in apparel sourcing for some time to come. ...

just-style homepage



Forgot your password?