Marks & Spencer has begun the biggest overhaul of its cosmetics offer in five years as it guns to increase its beauty market share.

The retailer has launched a new brand, Perfection, which replaces existing cosmetics brands Autograph and Per Una and is being rolled out from this month.

The UK cosmetics market is calculated by Verdict to be worth £1.25bn annually and skincare is worth £2.15bn. M&S executive chairman Sir Stuart Rose has flagged up the category as one in which he believes M&S could do better.

Perfection consists of 44 products ranging from staples such as lipstick to “advanced” products like “time-defying” foundation.

A diffusion range, Perfection Illusions, comprises an additional seven products.

An M&S spokeswoman described the launch as “significant” and said: “Perfection consolidates our cosmetics offer into a single brand, making it easier for the customer to shop. The new display and individual formulations ensure this is a professional range at an affordable price.”

Verdict lead analyst Maureen Hinton said: “M&S has a big opportunity because it has such a high footfall of women who will pick up those extras.” She believed, however, that the retailer would have to offer more than one brand to make big inroads into cosmetics.