Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

M&S to pay Lindsey brothers millions in sourcing deal

Marks & Spencer is reportedly set to hand sourcing specialists Mark and Neal Lindsey a multi-million pound paycheck, as its general merchandise sales show long-awaited signs of improvement.

The Hong Kong-based brothers, who are credited with streamlining Next’s supply chain, are 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, according to Sky News.

The sum is said to be “substantial” for this year, which is the first of a three-year contract, and is expected to increase over the subsequent two years.

Sky News said the gross margin improvement of between 150 and 200 basis points reported earlier this month would translate into an increase in profits worth tens of millions of pounds.

The retailer recruited the brothers as sourcing directors for general merchandise, with responsibility for clothing and footwear, in November.

M&S declined to disclose the brothers’ pay arrangements as they are not on the company’s main board.


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.