As part of a “reset” of its International business, Marks & Spencer has strengthened its global management team with three new senior appointments.
Manish Kapoor is joining from Pepe Jeans as the new Managing Director for M&S India; Victoria Jones, formerly from Clarks, steps into the role as Commercial Director, International; and Richard Davies has been promoted to International Partnerships Director – he was previously Head of Category for Brands at M&S.
All three will report to Mark Lemming – Managing Director, International, who was appointed last year as the retailer announced a reset of priorities for its International business under new leadership.
M&S stated that Lemming’s remit is to “reset the International business, building strong foundations for future growth through capital light partnerships and a multi-platform online business. Over time, the reset will enable greater opportunity to leverage the strength and knowledge of the M&S UK business and trusted brand to increase global reach”.
Kapoor will join the M&S in April, while Jones and Davies are already in post.
Lemming commented: “The reset of our International business is focussed on taking the right time and actions to build strong foundations for sustainable growth. Building an experienced global leadership team is an essential element of this plan and Manish, Victoria and Richard will play important roles, bringing fresh perspectives on our International reset and future growth strategy.
“As we continue to progress with our strategy, I remain confident in the medium and long-term opportunity for M&S to drive global growth.”
Whilst M&S has seen a significant improvement in the performance of its UK business, results overseas remain disappointing. Recent half-year results showed that the unit’s sales had declined 10.3%, with operating profit halving to £15.2m. The retailer noted at the time that actions had been taken to lower stock levels, improve the product range, reduce operating costs, and strengthen leadership, with it expecting the business to stabilise within the next year.
