An early lead lost

In 1926 Simon Marks, head of a little-known chain of penny bazaars called Marks & Spencer, placed an order for men’s socks with Corahs, a Leicester knitwear manufacturer. The order was kept secret – the Corah brothers did not want to offend the wholesalers, who forbade their suppliers from selling direct to retailers – but it proved to be the start of a beautiful friendship.

The cost to Marks & Spencer was 8s 6d for a dozen pairs of socks, a shilling less than a wholesaler would have charged. But Simon Marks was not just interested in lower prices. He wanted to distinguish M&S from Woolworths by upgrading quality and giving consumers real value for money. Hence he entered into a dialogue with Corahs on how the shilling saved could be spent on producing a better garment.

This was a boom time for ready-made clothing, helped along by the emancipation of women.