Michael Marks

Michael Marks was a Polish Jewish immigrant who came to England in 1882. He started his business as a peddler, selling goods from a pack on his back. He later opened a stall in Leeds market, where he sold various items for a penny each. He met Isaac Dewhirst, a warehouse owner, who supplied him with goods and later introduced him to Thomas Spencer, a cashier. Marks and Spencer formed a partnership in 1894 and expanded their business to various markets and towns in England. They specialized in selling high-quality goods at low prices, and adopted the slogan "Don't Ask the Price, It's a Penny". Marks was the driving force behind the growth of the business, while Spencer handled the finances and administration. They also developed a network of direct suppliers and manufacturers, which gave them an edge over their competitors. Marks became a naturalized British citizen in 1897 and a wealthy man by 1903, when Marks & Spencer became a limited company. He died of pneumonia in 1907, leaving his business to his son Simon Marks, who continued his father's legacy and made Marks & Spencer one of the most successful retailers in Britain.