M&S revamps homeware to compete with John Lewis

Marks & Spencer is undergoing a significant transformation in its homeware division, aiming to enhance its market presence following a successful revival in its fashion sector. Richard Price, the head of clothing and home, emphasized the company's commitment to advancing its core home business, which is seen as having substantial growth potential. This initiative comes as M&S shares have reached their highest level in over seven years, reflecting a positive market response. The collaboration with renowned designer Kelly Hoppen is a strategic move to elevate M&S's homeware offerings, which include a diverse range of products from affordable candle holders to premium bedspreads. Hoppen expressed her enthusiasm for creating items that cater to a wide audience, highlighting the partnership as a fulfilling experience. This collaboration is part of M&S's broader strategy to compete with rivals like John Lewis and Next. While fashion remains the primary focus, the company recognizes the importance of homeware, particularly as online sales continue to grow. M&S has shifted its strategy by discontinuing the sale of bulky furniture in stores, opting instead to offer these items online through third-party partners. This change allows M&S to streamline its in-store offerings while still catering to customer needs in the homeware sector. Looking ahead, M&S aims to increase its market share in clothing and home to 10.6% by 2028, up from 9.6% in 2023. With a solid foundation in food and a resurgence in fashion, the company is well-positioned to capitalize on the anticipated rise in demand for homeware as consumer confidence grows in the housing market.