Morrisons has confirmed its new M Savers value range is to launch in January.

The new range will replace its existing Morrisons Value range and comes as part of its two year strategy to boost own label volumes in store. Its own label offer is worth £6bn.

The launch will include point of sale material and press advertising. The range features drawings of the products on a white background, replacing the green and yellow colour scheme of its previous Morrisons Value offer.

Morrisons, which is investing £100m into promotions in the run-up to Christmas, said own-label sales helped drive a 2.4% increase in like-for-like sales excluding fuel in the 13 weeks to October 30 in its latest trading update.

The launch of its M Kitchen ready meal range in September represented the start of a two-year project to boost own-label, headed up by own-brand director Belinda Youngs and head of fresh Jamie Winter.

Other Morrisons sub-brands under consideration are Live Well, M Kids, M Greencare and M Organic.

Asda is also set to relaunch its value Smart Price range in January. The revamped offer will feature a new logo and on-pack photography on 400 food and 200 general merchandise lines.