M&S Video

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Post-Marks

In the 1990s, M&S became an international corporation. It was still very successful, as its approach to satisfy the middle classes was in tune with Thatcherite ideology.

Pressures to work increased, so the firm was the first in the country to bring in ready-meals. This totally influenced the British diet. Tastings were taken by top management every week to ensure the quality of the food.

Greenbury. The company was still under autocratic rule, but by a non-family member, Sir Richard Greenbury. He is famous for stating, "They think I give them Hell. I give them the truth and they think that's Hell".

Downfall (external). In 1996, the firm broke the £1b barrier in sales; however a £2b expansion scheme was pushed, which made the firm financially vulnerable.

The 1990s also saw a revolution on the high street, where more brands appeared, appealing to an increasingly fragmented market. M&S's radar did not detect this and suddenly the company realised that it was too far behind UK trends. The firm rushed to compete with others in the Autumn 1998 fashion, with its infamous "grey" line, but it failed miserably.

M&S was threatened by food stores as well, such as Tesco, which made M&S look too expensive to the customer.

In November 1998, M&S's profits fell for the first time in company history, by almost half to £700m.

Post-Marks continued