Marks & Spencer is seeking a contribution from suppliers towards the cost of its £600m store revamp programme.
The retailer held a meeting last Friday with 60 clothing and homewares suppliers when it asked for a one-off contribution of 1.25% of their revenues with Marks & Spencer in the year to August, the Financial Times reported.
Cash will also be used to fund M&S’s marketing, it is understood.
The request came as Marks & Spencer chief executive Marc Bolland drives forward his change programme, designed to differentiate its brands and sell them better through more easily shoppable stores.
Marks & Spencer has made similar requests to suppliers in the past. Not long after Bolland’s predecessor Sir Stuart Rose returned to the business as chief executive the retailer asked for help to fund its new marketing campaign.
* Marks & Spencer will open 90 of its biggest high street stores on Boxing Day this year in a break with tradition, The Sun newspaper reported. In the past the retailer has typically only opened retail park stores and Simply Food shops that day. A spokeswoman said: “We know some of our customers will be out and about in some shopping centres and would love to be able to shop with us.”