Marks & Spencer is reportedly set to net £200m in cost savings following an overhaul of its clothing production spearheaded by sourcing specialists Mark and Neal Lindsey.
The Hong Kong-based brothers, who are credited with streamlining Next’s supply chain, have been responsible for reviewing the retailer’s supply chain to source directly from factories.
The windfall will amount to £200m over three years, according to The Daily Mail. Sources told the newspaper the brothers might have been responsible for at least half the pre-tax profits gain at the business last year and possibly even more this year.
M&S recruited the brothers as sourcing directors for general merchandise, with responsibility for clothing and footwear, in November 2014.
They are reportedly in line to receive a fixed proportion of the savings generated by M&S’s improved gross margin related to general merchandise sales, as well as salaries of £400,000 each.