29 Jan, 2011 @ 09:00
1 min read

Marks & Spencer: A return to quality

A LITTLE bit of cashmere goes a long way, at least for Marks & Spencer.

The retail giant, which has shops in Gibraltar and Marbella, has revealed life’s little luxuries helped it achieve a record-breaking Christmas.

The British chain saw a four per cent increase in total sales in the 13 weeks running up to January 1. This was thanks to families indulging in luxury items such as champagne and cashmere jumpers in the face of the economic recession.

In fact, more was spent on champagne than on any other food product in the run up to New Years Eve with 1.1 million bottles sold in the 13 week period.

And sales of cashmere items priced over 75 euros were up 11 per cent on the previous year.

According to the company, which has become popular among wealthy consumers, it profited as shoppers made ‘a return to quality’.

It is looking to expand further into Spain this year by buying back some of the shops it sold in the 1990s.

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