Marks' 'quality for less' fashion

MARKS & Spencer is planning to launch a 'quality for less' clothing range in 150 stores.

The collection, at present under the working title of Project 150, will be pitched between its own-label range and M&S's designer Autograph brand.

The 'quality for less' price promise means that M&S and its suppliers will bear the increased costs for finer materials such as 100% luxury wools.

The new range is expected to be on sale by spring next year.

Project 150 is among a number of initiatives to reinvigorate M&S's faltering recovery story and it comes as Stephen Sunnucks, outgoing boss of New Look, is said to be close to signing up as head of the group's beleaguered womenswear operation.

The High Street giant announced a plan to revamp its 312 stores last week. The company is believed to be ready to spend between £30 and £50 a square foot on the renovation and ten new-look stores will open this year.

And its first home furnishings Lifestore will open this week in Gateshead.

Director Vittorio Radice, below, was originally brought into the group from Selfridges to launch the stand-alone furnishings chain.

Following speculation that he was unhappy and wanted to leave the group, he has been given the near fulltime role of redeveloping M&S's uninspiringstores.