Marks & Spencer “doubling down” on growth plans for UK men’s formalwear market

With the UK formalwear market worth almost £1 billion annually, Marks & Spencer is planning on growing its market share, currently at 18%, by focusing on style, quality, service and innovation.

The high street retailer is doubling down on its growth plans and setting out its intent to appeal to a broader customer base with what it describes as "a reset of its menswear formalwear category" for SS24.

It has invested £3.1 million in improving its free suit fit service, which is available at 44 stores across the UK where over 200 trained suit fitters help customers find the right size and fit to suit their shape and style needs.

In addition, 'Suit Squad' training has been rolled out to more than 200 staff members who come together online to share style and service tips, videos and pictures.

M&S has also expanded its online range by 16%, of which 40% are online exclusives, in order to offer greater differentiation to its online customers.

Meanwhile, the in-store experience has been improved through refreshed point of sale, including a new suit fit guide, as well as clearer zoning and navigation to make it easier for customers to shop the range and find the right style and fit.

Richard Price, Managing Director for Clothing, Home & Beauty at M&S, said: "To realise our ambition to be the UK’s most trusted retailer, exceptional product must be at the heart of everything we do. That’s why we’re investing in resets across categories where we have identified customer demand and market share opportunity.

"Men’s formalwear is one of these opportunities and we’re confident that the work we’ve done to push our style, quality, and value credentials and by delivering a better, more personal experience across stores and online, we can broaden customer appeal and really differentiate M&S as the high street retailer for formalwear."

In response to key eventing moments over the season, M&S uplifted the number of options and strengthened availability at its Aintree and Cheltenham stores to align with the races, with "plans to take a more localised approach to ranging when it makes sense to do so". And, for the very first time, the retailer will be introducing a 15% student discount on formalwear online and in-store in the coming months.

Price added: "Formalwear has been modernised away from the ‘uniform’ of suit, shirt, and tie. In its place there is greater demand for more style, softer and less structured tailoring, as well as smart separates that offer ‘desk to dinner’ versatility.

"Additionally, 275,000 weddings take place each year and we have worked on having an occasion and eventing offer with more style-led pieces and more colours, fits and fabrications."

To broaden appeal and "drive style perceptions", M&S has introduced more trend-driven pieces including ‘Italian Linen Miracle Suits’ across nine colourways, including waistcoats and double-breasted jackets, shorts and suits in summer tweed. Colour choice has increased by more than 110% to include neutrals, checks and pastels.

The core suiting options, defined as navy, black and grey, now make up 50% of the range, where previously it was 75%.

Focusing the range allows M&S to "push style, quality and value credentials" even further and make bigger buys on its top performing lines. While a clearer and simpler pricing architecture, including a new £85 opening price point, aims to make the category easier to shop.

New M&S formalwear innovations include:

• Italian Linen Miracle fabric - a trademarked construction weave and blend with recycled polyester and stretch which is crease resistant and woven in Italy.
• A refreshed Autograph Performance collection – fabrication that contains four-way stretch for easy movement and technology to ensure the fabric is crease-free and showerproof. The range is performing ahead of expectations in its first four weeks of trading, building on the sub-brand’s success in AW24.

Innovation also underpins M&S’ approach to circularity through the retailer’s sustainability programme, ‘Plan A’, with a focus on increasing the use of preferred and recycled fibres.

100% of the cotton used in M&S menswear is Better Cotton certified or recycled cotton, while 75% of menswear product is made using recycled polyester as the retailer works towards using 100% recycled polyester by 2025.