MARKS & SPENCER SELECTS TRUE TO DRIVE DIGITAL INNOVATION AGENDA
True will provide M&S with pre-emptive access to enterprise-ready businesses as the retailer seeks to enhance its digital capabilities
- M&S partners with Europe’s only specialist retail and consumer investment firm to access the latest retail-specific innovations and technologies
- True will provide access to over 2,000 enterprise-ready businesses every year through its Live Network
- Collaboration is part of M&S’ ongoing transformation which places digital expertise at the heart of the business
Marks & Spencer (M&S) has partnered with True, Europe’s only retail and consumer investment and innovation firm, to gain pre-emptive access to its deep-rooted retail and consumer expertise, emerging technologies, proprietary research and sector-specific international network. The partnership with True will generate investable opportunities for M&S, as the business seeks to transform its digital capabilities.
True’s business model and Live Network enables the firm to see over 2,000 enterprise-ready technology and consumer-product businesses each year. M&S will draw on the Live Network to access the latest innovative technologies and expertise from within the sector that can best support M&S’ digital ambitions.
Steve Rowe, Chief Executive said: “Our partnership with True will give us unparalleled access to the latest innovations and technologies that have the potential to transform the way we operate and run our business. As M&S seeks to become a Digital First retailer, we will be on the front foot thanks to True’s deep sector knowledge and the exposure they will give us to new enterprise-ready technologies which will benefit our customers and make us fit for the future.”
Mike Tattersall, True Chief Commercial Officer said: “The explicit focus of our Partnership activities is to deliver positive commercial outcomes with clear and tangible ROI for our Partners. M&S exemplifies a business that has not only helped shape the British retail landscape, but understands the need to evolve - and the importance of innovation to achieve this. Through the True Live Network, we will support M&S in enhancing its operations and ensuring it’s a retail business that is strongly positioned to navigate a continuously changing landscape.”
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For further information, please contact:
M&S Corporate Press Office: +44 (0)20 8718 1919
True Press Office: firstname.lastname@example.org | 00 44 203 740 6940 | 00 44 7908 776548
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Notes to editors:
Making M&S Special
In November 2017 Marks & Spencer set out a five year transformation programme for the business concentrating on Restoring the Basics, Shaping the Future and Making M&S Special.
Under this transformation programme, Making M&S Special, M&S has to date announced:
- A slowdown in the Simply Food store opening programme
- An acceleration of the UK store estate closure programme
- The sale and franchise of its retail business in Hong Kong and Macau
- A new Technology Transformation Programme
- Improvements to its Clothing & Home Logistics Network
- The restructure of the Customer, Marketing & Digital Team
- New customer insight partnership with Starcount
- The appointment of a new Food Managing Director
- The merging of its Retail & Property functions
- A New leadership team responsible for overhauling Clothing & Home business
- The announcement of the start of a programme to create a family of businesses under the M&S brand
- The appointment of two new Non-Executive Directors to its Board
- A strategic partnership with Microsoft focused on the retail experience
- A new strategic partnership with Octopus to supply energy and services under the M&S Energy brand from September 2018
- The launch of Founders Factory Retail, a JV focused on investing in start-ups
- The creation of a Retail Data Academy with Decoded to upskill over 1000 colleagues
True (www.true.global) is Europe’s only retail and consumer sector specialist that operates across the entire investment vertical. True has total funds under management of £200m and invests in retail and consumer sector business models which represent the future of the industry.
True’s Live Network model brings together its private equity companies, startup innovators, investors and leading industry partners to add value, both strategically and operationally, across the retail and consumer spectrum.