M&S strikes Australia deal with David Jones
'This is a market which has always shared longstanding and strong links with the UK and where brand recognition is high,' M&S MD of international, Mark Lemming, told The Times. 'With a shared set of values surrounding quality, innovation and trust, David Jones is the perfect partner as we take our first venture into a partnership in fashion.'
As he said, it's a first for M&S as its fashion division hasn't previously entered such a wholesale partnership with another retailer. But it underlines how well respected the company's fashion is, no longer seen as 'just' an own-brand, it also has a life beyond the confines of M&S's stores and webstore.
As Lemming's comments show, Australia is seen as a natural market for the brand to try out the idea and awareness of the label exceeds 50% among Australians, it said. That also suggests that a successful initial period could see the deal getting bigger.
M&S has had a checkered history with its international ops, opening and then exiting Canada as well as Western Europe, as well as making ultimately unsuccessful acquisitions abroad such as Brooks Brothers.
Its more recent moves have proved more successful but were still loss-making in its latest financial year. Yet CEO Stuart Machin has called out non-UK ops as a major 'growth opportunity'. It has a major deal with Reliance Retail in India and it has a longstanding franchise deal with Al-Futtaim across the Middle East. It has also been re-entering European markets.
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