Group5_Marks & spencer_v3.pptx - MARKS SPENCER \u2013 REVIVING THE BRITISH ICON IT COULD HAVE TURNED LEFT BUT HOW DID IT TURN RIGHT FMG 28C GROUP 5

Group5_Marks & spencer_v3.pptx - MARKS SPENCER u2013...

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FMG 28C GROUP 5 MARKETING MANAGEMENT NIKHIL NIRUPAM 281148 POOJA CHIB 281149 PRACHI ROHIRA 281150 PRAKSHI JAIN 281151 PRATIBHA BAHETI 281152 RUCHITA GARG 281153 MARKS & SPENCER – REVIVING THE BRITISH ICON IT COULD HAVE TURNED LEFT, BUT HOW DID IT TURN RIGHT?
INTRODUCTION TO THE CASE Marks & Spencer is a major British multinational retailer headquartered in Westminster, London that specializes in selling high quality clothing, home products and food products with a strong heritage. For people outside of UK, it is difficult to comprehend that M&S is more than a brand, it is a national institution. Found in 1884, M&S became the first British retailer to make a profit of over £1 billion in 1998. But just a few years down the line, profitability plummeted by 85% to £145 million. The case discusses the reasons for the downfall and the necessary steps taken by the management to revive the brand and win back customers’ trust. MARKS & SPENCER – REVIVING THE BRITISH ICON IT COULD HAVE TURNED LEFT, BUT HOW DID IT TURN RIGHT?
THE PHILIP GREEN TAKEOVER BID In Spring of 2004, Stuart Rose was appointed as the Chief Executive Officer of M&S who had made his reputation as a turnaround specialist at Arcadia The first challenge he had to face was an £8 billion takeover bid – the largest hostile takeover attempt in the UK. A battle was fought, with Rose spending hours and hours being with the media which led to surreal amount of press for the company

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