Founders Factory helps Marks and Spencer leverage startup way of working
Marks and Spencer has been reflecting on one year of its Founders Factory startup partnership.
“We have big ambitions for our future here. And embracing agility by leveraging a startup way of working is a big part of that,” says Daniel Himsworth, Founders Factory Lead at M&S.
“So it was only natural that we’d partner up with Founders Factory, an organisation that accelerates and incubates startup businesses. Joining forces with them last year has been key to helping us drive innovation; stimulating ideas and unlocking the new thinking we need to move forward.”
Founders Factory has been introducing the retailer to a range of new businesses, from which it selects five each year to invest in. The first ones are as follows:
Charged Up gives people power on demand through its network of portable power banks. There are more than 1,500 stations in the UK, including in some in M&S stores.
Rocketo is a healthy (raw, dehydrated and organic) and environmentally responsible dog food product which is sold online as a subscription service. M&S now stocks Rocketo in 28 stores.
The Drop. Customers can choose a suit, upload a photo and their measurements and receive a tailor-made suit in three weeks, for £299.
Texel is a 3D scanning technology that gives customers the chance to create digital avatars, so they can find clothing most appropriate to their shape and size. Himsworth says: "This opens up many exciting routes for us, it puts us at the sharp end of change and gives us the tools to test new ways to inspire customers."
Cogz is a marketplace for farmers, growers and producers to sell surplus produce direct to trade buyers before it becomes food waste.
The retailer is also working with Founders Factory to build a company from scratch. Ruley allows influencers to create capsule collections to market and sell directly to their online audience.
“Looking ahead at year two, we’re thrilled to have already identified our first investment. Hundreds of colleagues have been involved, so this really is a group effort that they can be part of,” Himsworth concludes.