M&S’s supplier relationships make luxury knits more affordable
UK retailer M&S has reported an increase in demand for “premium knitwear”, with sales of men’s merino jumpers rising 10% in the run-up to Christmas.
It claims to be the market leader for men’s knitwear in the UK, with a 35% share, adding that it sold around 20 men's jumpers every minute in December.
It can offer more accessible price points through long-standing supplier relationships, along with its scale, it added.
The retailer sources 47% of its wool through either the Responsible Wool Standard or certified recycled. All the fibre used within pure cashmere products, sourced from Mongolia, is certified by the Sustainable Fibre Alliance.
Mitch Hughes, menswear director at M&S, said: “From merino and mohair to cashmere, customers are choosing more elevated knitwear that combines quality, value and versatility. Through our supplier partnerships and sourcing principles, we’ve been able to democratise fabrics previously considered a luxury.”
