History of Marks and Spencer / M&S

Marks and Spencer, commonly known as M&S, was founded in 1884 when Michael Marks, a Jewish refugee from the Russian Empire, opened a market stall at Kirkgate Market in Leeds, England. His stall became known as a "Penny Bazaar," with a sign reading "Don't ask the price, it's a penny." In 1894, he formed a partnership with Thomas Spencer, a cashier from a wholesale company, and the two men established the business that bears their names.

In the early 20th century, the company grew from market stalls into a chain of high-street shops. Under the leadership of Simon Marks, Michael's son, M&S began working directly with British manufacturers and introduced its own brand, St Michael, in 1928. The company built a reputation for quality clothing, and later for food, becoming one of the most trusted names in British retail. In 1998, it became the first British retailer to report annual profits of more than £1 billion.

From the early 2000s, M&S faced growing competition from cheaper fashion retailers and supermarkets, and its clothing sales came under pressure. The company closed many of its overseas stores and focused on its food business, which grew in importance. In 2019, M&S formed a joint venture with the online grocer Ocado to strengthen its online food sales.

Today, M&S operates hundreds of stores across the United Kingdom and has an international presence through franchise partners in many countries. In 2025, the company was hit by a major cyberattack that temporarily disrupted its online orders. It continues to modernise its stores and digital operations while building on its long-standing reputation for quality food and clothing.