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M&S Takes Next Turn In New Efficiency Drive

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MarkSpencer

M&S is turning to two brothers who ran rival Next's supply chain to boost its profit margins, Sky News can reveal.

 Marks & Spencer (M&S) is turning to the architects of rival Next's widely-envied supply chain in a bid to drive efficiencies that will save it tens of millions of pounds a year.

Sky News has learnt that Britain’s biggest clothing retailer has appointed two brothers, Mark and Neal Lindsey, as sourcing directors for general merchandise, with specific responsibility for clothing and footwear.

The appointments will hand the Hong Kong-based duo powerful influence over much of M&S’s commercial activity, according to insiders, overseeing its network of regional sourcing offices around the world as well as its large London-based central sourcing team.

Taking up their roles on Monday, they will be charged with boosting M&S’s margins at a time when the City remains unconvinced about the long-term prospects of the company. The Lindsey brothers have a long track record in the secretive milieu of global fashion sourcing, where billions of pounds changes hands as international retailers attempt to squeeze suppliers in order to boost profits. Although little-known in the UK, they played an important role in assisting Next’s rise to prominence on the high street and its establishment as a darling of the City...Read more on sky

Last modified on Tuesday, 04 March 2014 10:06

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