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Daily Mirror
Daily Mirror
Business
Emma Munbodh

M&S seals tie-ups with Joules, Phase Eight, Hobbs and Seasalt to boost online sales

Marks & Spencer will join forces with Joules, Phase Eight, Hobbs and Seasalt when the high street reopens after lockdown.

The chain, which recently acquired Jaeger for £5million, said the move will help it rebrand after a year of dozens of high street casualties.

However, chief executive Steve Rowe, said Marks & Spencer outlets will not become department stores - instead following in the footsteps of rival chain Next.

"We've got no intention of turning this into a department store at all. This is about finding and partnering with adjacent brands," Rowe said.

Marks & Spencer acquired Jaeger last week for £5million - but said 63 stores will still close for good (Getty Images for Jaeger)

It is understood the latest brands have been picked by M&S as they are appealing to its middle-aged female customer base.

It will be in addition to own brands, including M&S Collection, Autograph, Per Una and Blue Harbour menswear.

The collections will be stocked in stores and online and join the likes of Nobody's Child and Ghost fashion.

It also follows a trial partnership with Early Learning Centre in the run-up to Christmas boosted festive sales.

Retail analysts speculate that if Jaeger succeeds then Rowe could look to implement a more active acquisitions strategy in future.

Clive Black, analyst at Shore Capital, said: "Once we come out of lockdown and stores reopen M&S can return to profitability and strengthen the balance sheet.

"Rowe has shown with the Ocado joint venture and rights issue he does not want the company to be a victim. I think we could see more bolt-on deals in clothing, food and home."

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