Pandemic has severely hit the sales of formalwear and men’s suits across the UK in the last 18 months and many fashion retailers are facing the heat today. Marks & Spencer (M&S) is no exception.
The London-based multinational retailer has, reportedly, said that it is not currently selling men’s suits in over half of its 254 bigger stores.
The retailer has seen the sales of formalwear slump by 72 per cent in the year to April 2021 in bricks-and-mortar stores, while the fall of the same was 15 per cent online.
On the contrary, sales of causalwear, expectedly, rose by an impressive 61 per cent during the period.
M&S also said that only 2 million men’s suits were bought in the year to July, compared to 4.3 million suits bought in the same period back in 2017.
So it was not a surprise when the retailer, reportedly, said that it is selling men’s suits only in 110 of its large stores.
M&S, however, is still trying to help shoppers in buying men’s suits and in this regard had also launched digital video consultations for the benefit of customers. More on this, Wes Taylor, Director, M&S menswear, averred “We still want to be the go-to for a great suit whatever the occasion.”
M&S was founded in 1884 and generated revenue of £10,181.9 million in 2020.