The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company's key strengths and weaknesses and the potential . MOST RECENT 2022 Annual Report. Analysis. 2,300,000. In addition, Porters Five Forces Analysis discusses the industrys competitiveness and the firms competitive positioning in the marketplace. Marks and Spencer PLC Introduction Marks and Spencer is one of the leading British retailers and it is based in London, UK. Despite several setbacks in its in-store service, such as an increasing number of out-of-stock items (Ruddick, 2016) and online service (Curtis, 2015) M&S is investing in customer service. Comment: Retailers must heed Marks & Spencers international strength. 'Loyal' customers were departing to competitors like Next, Gap and Oasis for trendier clothing at lower prices. Its own M&S.com was only launched in 2014 after three years of development (The Telegraph, 2014). M&S reports worst clothing sales fall for a decade. London: Marks & Spencer. Marks and Spencer Group plc (commonly abbreviated to M&S and colloquially known as Marks's or Marks & Sparks) is a major British multinational retailer with headquarters in Paddington, London that specialises in selling clothing, beauty, home products and food products.It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index; it had previously been in the FTSE 100 . Add to Library Added to Library Add to Library Remove. Like many other retailers, Marks & Spencer has been hit hard by the pandemic but it is also dealing with years of missteps. RESEARCH PAPERS AND ESSAYS . Porters competitive strategy theories are mainly five force model, general strategies, value chain, diamond system and industrial clusters. Also read Marks & Spencer SWOT Analysis, STP & Competitors. Heres how the Brexit Referendum is affecting the UK economy so far. As regards its clothing business, the threat of substitutes is high copying or imitating existing designs is becoming ever easier. One example is the lack of a charge on plastic carrier bags and how this is affecting the companys efforts to implement sustainability measures (Vaughan, 2012). Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. A general overview of Marks & Spencer is followed by a PESTEL analysis which offers a comprehensive look at the companys strategic business environment. Multiple initiatives including adding new sub-brands such as Autograph and Per Una, attracting employees from rival companies as well as launching a website in 2014 have been introduced in an attempt to strengthen the clothing arm of the business and thus reverse a decade of market share decline in what was once considered the companys most profitable business (The Telegraph, 2014). 10% most volatile stocks in GB Market. M&S offers clothing, home products and luxury food products both in store and online (Marks &Spencer, 2015). A shift from a strong focus on products to a more consumer-focussed strategy has benefited the company. However, despite its successful specialist positioning. The outcomes through analysis and discussion give a useful help to retail industry. 5. It could supply goods whatever customer needs timely whether it is the variety of food products or clothing style. However, despite considerable barriers to entry, the company is facing incoming competition in both its clothing and food sectors. M&S offers clothing having exquisite style, quality and value for money and household items, as well as outstanding quality foods, all products undergo rigorous screening, from more than 2,000 suppliers around the world. of employees. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. The decline of M&S post the 1990s was largely due to competitive retailers operating with foreign imports. M&S then bungled setting up its own site, with an expensive high-tech warehouse that didnt work properly and a boring, clunky website. Further, clothing sales reached a ten-year low in Britain (Davey, 2016) and falling oil prices negatively impacted stores performance in the Middle East (M&S, 2016). The report presents an interesting business case and competitive analysis for M&S which illustrates that only an educated business strategy for implementing market segmentation, bolstering online presence and reducing reliance on UK market will help M&S overcome its present challenges and tread on a trajectory of growth and success. Sainsbury defied the gloomy rhetoric around consumer spending in its third quarter to January 7 as it raised full-year guidance on the back of a "record Christmas". SWOT analysis of Marks & Spencer analyses the brand by its strengths, weaknesses, opportunities & threats. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Facing fierce competition, M & S retail businesses have successfully used a variety of competitive strategies to improve their competitiveness. The supermarket bumped up . Subscriber Exclusive Subscriber Exclusive Revenue. The low-cost of commercial retail enterprises, lead to lower barriers to entry the retail industry, retail businesses are always faced with the threat of new entrants. M&S has been affected by the recession and has seen a big slump in sales in 2009, a fouryear decline in its clothing sales and most recently, a ten-year low in its clothing sales in the second quarter of 2016 (Davey, 2016). Abroad, it sells goods and services in more than 320 stores in over 40 countries. Click the button below to request a report when hardcopies become available. With the emergence of electronic commerce, M&S also creatively establish a website, combining traditional retailing with e-commerce. Marks & Spencer is one of the leading brands in the lifestyle and retail sector. Retrieved July 2016, from The Telegraph: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10403348/Should-MandS-giveup-on-clothes-and-focus-on-food.html, Ruddick, G. (2016, July 7). Its external environment can be assessed in the following manner in light of Porter's Five Force Model: It belongs to products and services . In its food sector, the company has introduced staff zoning across food halls and is increasing the number of staff in the store on an ongoing basis. Founded in 1884, the more than a hundred-year-old chain has long been a household name in the United Kingdom (and elsewhere! Below are the Strengths in the SWOT Analysis of Marks & Spencer : 1. Unstable political and economic conditions in several international franchise markets in which the company operates such as the Middle East, Russia and Ukraine pose a threat to both franchise receivables and on the companys development in these areas (Marks & Spencer, 2015). (2016). Buying errors Too many skinny trousers, too few jeans and other buying errors have held M&S back in recent times. (2015). The brand also offers products and services online along with its physical store. M&S has sold almost all own-brand goods. They used their resources and subsequent capabilities to exploit their differences from the competitors and create competitive advantage by: *Empowering suppliers/manufacturers with design responsibility *Closely managing supplier relationships An in-depth SWOT analysis that assesses both the internal (strengths and weaknesses) and external (opportunities and threats) environment of the company is given. In addition, the company experienced technical difficulties and privacy breaches on its website when introducing their members club and card scheme at the end of 2015, leading to a temporary website shutdown (Curtis, 2015). Technology trends in fashion. Even though the company still holds the first position in terms of sales by value, its 14 quarter slump preceding a one-off rise in sales in the first quarter in 2015 makes it likely that the company will be moving its focus from clothes to food (The Economist, 2015). Currently, the retailing brand has more than a thousand stores alone in the UK and 1,487 stores across the globe. Should M&S give up on clothes and focus on food? Some operation management theories are applied in the process of analysis. To find the main sources of competitive advantage that Tesco has over its competitors an analysis of the structure of the industry should be under-taken . M&S has to ensure that it does not obstruct any laws or regulations both in its home market, in international markets during expansion as well as in the countries alongside its value chain. Cost leadership strategy is to low operating costs or fees. Through the above analysis, M&S has made a great progress, getting over lots of difficulties. The group's international business accounted for 7.1% of turnover and had grown to 219 franchise stores in The marketing strategy of M&S is to emphasise the quality and style of its products. Marks and Spencer has strongly criticised the government for intervening in its plans to knock down its flagship Marble Arch store in London, saying the firm is "bewildered and disappointed". The companys strong food business managed to deliver like-for-like growth in every quarter in the last financial year, maintaining its margins and outperforming the market by 3.5% due to its distinct and differentiated specialist strategy (Marks & Spencer, 2015). M&S is investing in its digital development which is evident through the launch of marksandspencer.com in 2014, engaging with 2.6 million people via social media, platforms and social media websites such as Twitter, Instagram and Facebook (Ratcliff, 2014). The latter has most recently resulted in a 10 year low in the sales of its clothing business (Ruddick, 2016). (2015, May 20). The present assignment report is discussing about proper market research that help Marks and Spencer (M&S) to identify their growth and several marketing opportunities. In the retail sector in which Marks and Spencer operates, competition is strong and growing the company is facing intense rivalry from supermarkets chains, homewear stores and fashion retailers. The main competitors of Marks and Spencer Group include Beacon Roofing Supply (BECN), Global-e Online (GLBE), Sprouts Farmers Market (SFM), Foot Locker (FL), Marui Group (MAURY), Signet Jewelers (SIG), Insight Enterprises (NSIT), Samsonite International (SMSEY), Kohl's (KSS), and Hagerty (HGTY). Market Average Movement. Valuable - Is the resource valuable to Spencer Marks. Retrieved July 2016, from RetailWeek: http://www.retail-week.com/comment/comment-retailers-mustheed-marks-and-spencers-international-strength/5041479.article, Ruddick, G. (2013, October 24). Key Highlights Marks and Spencer Group plc (M&S or 'the company') is one of the leading retailers . A value chain analysis is a strategic tool use to identify the activities in and close to an organisation which lead to the creation of a product or a service. It is estimated that currently the latter group comprise close to eight per cent of the workforce in the UKs M&S stores (Dentons, 2016). The management believes in collecting and assigning cost data that is being shifted away from control. Marks & Spencer. MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals. He displayed goods by category and price tag, getting rid of the bargaining traditional transactions. . Over the last one quarters, M&S's revenue has decreased by 0%. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors. Being a popular brand, they need to protect their brand from misuse of fake imitation products. 25, 2020 5:49 PM ET Marks and Spencer Group . Marks & Spencer's major business is in UK . M&S can develop their website 2. 3) Value Chain: Value Chain is an essential tool for analysis of source strengths. Over the years, Marks and Spencer has spread its operations to meet the demand of its customers. The threats for any business can be factors which can negatively impact its business. Large-scale commercial retail enterprises shall include at least the brand connotation of the brand of goods, services, brands, and on the basis of the previous two derived from the three-tier corporate brand meaning. It made a massive investment in an automated home delivery warehouse which has struggled to cope with demand. London: Retail Week. 5 kinds of factors are the threat of potential entrants, threat of substitutes, the bargaining power of buyers, suppliers and the bargaining power of existing competition within industry. 5.3%. Marks and Spencer Marketing Mix: Marks and Spencer, commonly called M&S, is a public limited company of British origin. Strong competition from other retail brands means limited market share, 2. After companies establishing their own unique brand image, they should make long-term planning to maintain its own brand image (Harry J.P., 2000). As the retail business operated products, the technical content of most is not high, more likely to imitate, so facing a greater alternative threats. (2014, September 1). Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. The company has traditionally invested in TV and magazine advertising as well as in-store visual merchandising. The Competitors analysis of Marks and Spencer Enters China looks at the direct and indirect competitors within the industry that it operates in. (2013, April 11). The penny bazaars were a huge success . Retrieved July 2016, from The Guardian: https://www.theguardian.com/business/2016/jul/07/welcome-to-the-ms-merry-go-round. Hence, whilst the company has been growing its online business, with sales from tablets and mobiles growing by twenty-eight per cent and eighty-five per cent respectively (Marks & Spencer, 2016) and is also offering a Sparks membership club which offers personalised benefits to loyal customers, its strategy is showing signs of weakening. It is expected to launch a redeveloped Bradford National Distribution Centre in 2016 (Marks & Spencer, 2016). As regards its fashion business, the speed with which the latest trends are being communicated to designers has increased as has the speed of transportation. 1) Five Forces model provides a very useful analytical framework to study the competitiveness of industry, competition in the corresponding morphology and how to design a strategy. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. 1. There are future opportunities in expanding their brand into China & India. Retrieved July 2016, from Reuters: http://uk.reuters.com/article/us-m-s-outlook-idUKKCN0ZN0EH. Other retail stores are a threat due to their discounted prices 2. II. In this area, Marthas main competitors are facing the department store, and Saier Fu Leach youth-oriented casual relaxed style of the shops, in addition to including many other stores. For example, Tesco, ASDA, Sainsbury's, Morrisons, Next, Gap, Sports Direct, Debenhams, John Lewis and Amazon are some of the biggest competitors of Marks and Spencer. Marks and Spencer Group (M & S) is an iconic and leading retailer of food, home ware and clothing items in the UK and worldwide. Thus, Porter makes an extension of his research into the national competitiveness. SWOT analysis of Marks & Spencer analyses the brand by its strengths, weaknesses, opportunities & threats. Customer firstly thinks a lot of commodities with high-quality and low price, which is Marks & Spencer sought-after standard. Porter through the study of industrialized countries finds industrial cluster is a common phenomenon in the process of industrialization, in all developed economies, are it is clear that a variety of industrial clusters. Beginning in the 1990s and more recently as a result of the recession in 2009, the company has faced both a decrease in sales as well as increasing competition from online retailers, discounters, fast fashion brands and others in both its clothing and food businesses. The main way to differentiate their market position, that is, to determine a companys market position is different from other enterprises or image. It may need to restructure its supply chain once it loses access to the EUs open market and UK citizens working in stores in the EU as well as EU nationals employed in UK stores may be affected when the freedom of movement of workers is no longer applied in the UK (Dentons, 2016). London: Routledge. Since starting in 1884 the brand has been the epitome of quality, style and increased investments in product innovation (Marks & Spencer, 2016). Recently it has utilised its customer loyalty data to organise targeted marketing and promotional activities and focus on high-impact promotions, which result in better value for customers and increased sales (Spencer, 2015). Enter for a chance to WIN a signed copy of Holly Willoughby's new book, 'Reflections', or an exclusive personalised video message from England Rugby star, Maro Itoje! Two external factors that affect the retailer include changing values in the population and a generation shift with the Baby Boomer generation retiring, the company has to redirect its attention to Generation X and the Millennials. External Analysis of Company: Marks & Spencer is one of the recognized names in retail products and other aspects related to the organization have ensured a sound presence across the corners of the world. Marks And Spencer: A SWOT Analysis. Retailing 2015: New Frontiers. The paper concludes with a value chain analysis which examines inbound logistics, operations, outbound logistics, marketing, and sales and services. The 133-year-old Marks & Spencer has been busy closing stores around the world and plans to close 53 wholly-owned stores . M&S raises the stakes in battle over current accounts. The economic uncertainty prior to and after the Brexit referendum has already posed a threat to M&S in addition to the impact that was immediately felt, such as a decrease in the buying power of the pound, the vote will have an impact on product imports in ways that will probably make the retailer restructure its supply chains (Reuters, 2016). SWOT Analysis is a proven management framework which enables a brand like Marks & Spencer to benchmark its business & performance as compared to the competitors. Retrieved July 2016, from The Guardian: http://www.theguardian.com/business/2015/jul/16/marks-spencersclothing-director-set-to-quit-after-sales-slip, Makos, J. Marks and Spencer PESTLE Analysis Oct 14, 2019 by Thomas Bush Marks and Spencer (M&S) is a renowned British retailer that deals with food, clothing, and various home products. Marks&Spencers is a leading retailer of clothing, food, home ware and financial services. Key Legal Brexit Issues for Retailers. Marks & Spence: From pants to panettone. The internal and external evaluation of the Marks and Spencer is discussed in the study. 2. The companys international expansion via franchise agreements gives it a strong competitive advantage compared with other UK businesses that trading only on the UK market (Rogers, 2012). In addition, the strategy also adopted by the choice of the target market to find the weakest link in the existing competitors cut into, to avoid a competitor with a strong head-on collision. Marks & Spencer remains the UKs biggest seller of clothes, by value, but it has lost ground to rivals. (2016, July 7). Marks and Spencer food sales offset clothing weakness. Standardization Management greatest advantage is that we can save a lot of management costs, while consumers can enhance the overall impression of the Marks and Spencer, giving them a home away from home shopping experience. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! M&S operates in a market in which innovation is paramount to keeping ones brand consistent and in line with the requirements of an ever-changing customer base (PWC, 2015). Porters model was designed and developed by Michael Porter in the 1980s to determine the competitive intensity and attractiveness of an industry (Spencer, 2015). However, in todays fiercely competitive market environment, M&S should also adopt optimal strategy to obtain a stronger competitive by reducing human and material costs by exploring overseas cheap labors and improving their quality of service and giving full play to their creativity. The launch of a members club called Sparks at the end of 2015 with four million registered members is expected to drive online footfall through the introduction of a personalised shopping experience and individually tailored loyalty schemes. How many Marks & Spencer retail stores are there in the United Kingdom? It is essential to study the internal and external environment in order to achieve a competitive advantage. Harrison, J. - provides you an in-depth strategic SWOT analysis of the company's businesses and operations. Macroeconomic factors and a weakening euro are still considered to be a challenge, especially in the Middle East (Marks & Spencer, 2016). SWOT Analysis Of Marks & Spencer is brand-based. Retrieved July 2016, from The Economist: http://www.economist.com/news/britain/21651763-britains-biggest-clothing-retailerquietly-turning-upmarket-grocer-pants. The industrys competitive position and comprehensive degree lead to economy structure changes within industry, to determine the intensity of but from industry inner competition and determine the ultimate profitability within the industry. It has over 1000+ stores present across 40 countries, 5. Article Summaries: Qualitative and Quantitative Studies on Burnout Amo Europe in International Affairs: A review of the work of Christopher H How to Write a Critical Review of an Article, How to Analyse Secondary Data for a Dissertation, We use cookies which you can view and control. Fashion Retail 2016: The future of fashion retailing in a digital age. Marks & Spencer Foods is a 100% private brand. Most traditional retail stores are selling a variety of brands of goods, of course, there are also some traditional retailers also selling a small amount of own-brand goods, such as designers for Target to sell tailored specialty products. Here are the weaknesses in the Marks & Spencer SWOT Analysis: 1. (2015). Marks & Spencer Group plc published this content on 16 January 2023 and is solely responsible for the information contained therein. Over 80,000 employees form a part of the workforce globally. (2010). As stated in its last annual report, and as part of its Plan A, the now nine-year-old strategic sustainability plan of the company building relationships with customers and suppliers and the communities in which they operate is essential for the company. Marks & Spencer has achieved a paperless management, which ensures that all over the world Martha chain can continue to run in an orderly manner. The company has its main presence in UK where it operates over 700 stores. Marks & Spencer Company Stats Industry Retail and. The reactions of managers to such type of data rely on the expectations or the formal budget or planned targets. At present, 80% of M&S operating goods have the brand of St. Al-Shabaab calls for attacks on Oxford Street and Westfield centres in new terror threat. During the years of the financial crisis, the company continued its strong brand momentum by maintaining premium pricing and backing it through investments in advertising. In addition, online supermarkets such as Ocado are starting to get the market share of traditional store-only food retailers. During the financial crisis of 2008, while competitors such as Aldi, Asos or Tesco followed a strategy of discounted pricing, M&S emphasised higher quality products and better consumer satisfaction (The Marketing Society, 2010). 1,105 17. London: Marks & Spencer Plc. Browse marketing analysis of more brands and companies similar to Marks & Spencer. The 20th century, 80s, it began to lease satellite transmission, integrated global marketing data, the commodity management, logistics and distribution, global procurement and data processing of all applications of advanced modern information technology to significantly reduce the cost, annual savings of more than competitors) 750 million of dollars in spending. Marks & Spencer Competitors Marks & Spencer competitors include Volvo IT, Tesco Corporation, PACCAR, MS Global Inc and Phoenix Technology Services. Marks and Spencer Group plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. According to analysts, a steeper fall is expected in the coming years (Macalister, 2015). In addition, the in the implementation process of objectives accumulation strategic, the cost leadership strategy and differentiation strategy can also be used at the same time. Third is using capital operation, expanding the enterprise scale. 4) Diamond system: the State plays an important role in the success of enterprise competition. M & S in the UK and other countries, more than 75,000 employees in the UK, currently has 622 stores in the international context, M&S is also actively developing business. Marks & Spencer reported strong third-quarter results. The companys international business, which comprises 468 wholly-owned, jointly-owned or franchised stores and spans 59 territories in Europe, Asia and the Middle East, had revenue of 1.1 billion in the last financial year (Marks & Spencer, 2016). (2015). Industrial cluster is defined as a specific area, with competitive and cooperative relations, and geographically concentrated, with interactive relevance enterprise, specialized suppliers, service providers, financial institutions, related industries such as manufacturers and other relevant bodies composed of groups. Prior to the 1990s, when close to ninety per cent of M&S suppliers were British, their bargaining power was high. The top 10 competitors average 5.7B. (2011, July 28). Customer satisfaction business philosophy: customer satisfaction has always been Marks and Spencers business philosophy. For this, PESTLE, SWOT Analysis should be done along with competitors matrix, Boston consulting matrix and Ans-off matrix. 1884, 21-year-old Michael Marcos in Kekegaite open-air market of United Kingdom Leeds City had opened a unique small stalls, which is the embryonic form of Marks and Spencer. Only 18.5% of its clothing and home sales were online. 0 1 0. Marks and Spencer has nearly a thousand of suppliers, and suppliers Dibos companies having more than 100 years cooperation, with more than 60 suppliers with more than 50 years of partnership. 1st jan. Capi. Because Marks & Spencer has become a very powerful organization in the retail world, new competitors find it very difficult to keep up with the quality of products and services that Marks & Spencer provide. Here is the Pestle Analysis of Marks and Spencer. Marcos. Abstract Strategic position: Marks and spencer is operating in a very competitive environment and there are many factors that affect the company in the outside environment. Green consumerism and customers ethical concerns about the socio-environmental costs of brands they use is one of the factors contributing to the development of companies sustainability reporting and related activities. Food sales accounted for 49.8% of its UK business and had a market share of 4.3%. Yet, these attempts have so far not resulted in a desirable outcome (BBC, 2013). Jones, R. (2014, March 7). The primarily product-oriented strategy of the company that places a strong emphasis on its M&S brand is not beneficial at a time when M&Ss competitors are employing a customer-oriented approach and investing in building strong consumer relationships (Ruddick, 2013). First, they can through cost analysis identify the greatest impact factors on the business cost, controlling systematically cost. Business Strategy: Managing Uncertainty, Opportunity, and Enterprise. The company targets same C1 category customers. As regards the companys food business, of the four big supermarkets in the British market Tesco, Asda, Sainsburys and Morrisons Tesco and Sainsburys have already developed a high quality range of foods which were previously considered a traditional market for M&S (Ruddick, 2013). The move resulted in a considerable decline in the bargaining power of its British suppliers (BBC, 2013) and, hence, the bargaining power of its supplier is currently low. The week ahead in business and finance. Introduction 4. Molinero, CM, Bishop, H & Turner, M 2005, 'The distress of Marks & Spencer PLC in 2001: a multidimensional scaling analysis/Los problemas de Marks & Spencer PLC en el 2001: anlisis de escalamiento multidimensional', Cuadernos De Estudios Empresariales, . Despite a slight rise in April 2015, the companys clothing sales have being falling for four years in a row with the company facing its worst quarter since 2005 in the second quarter of 2016 (Davey, 2016). He thinks factors that may strengthen their national enterprises to create competitive advantages include factors of production, demand conditions, business strategy, structure and competitors, related industries and support for industry performance. By 1894, the British Spencer Tom with 300 pounds, and Marcos had co-founded Marks & Spencer. 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High copying or imitating existing designs is becoming ever easier philosophy: customer has..., outbound logistics, operations, outbound logistics, marketing, and enterprise massive in... Name of business Bliss Consultants FZE, a steeper fall is expected in the process of analysis the expectations the. Companys strategic business environment bargaining power was high, 2013 ) the retailing brand has more than a chain! 1000+ stores present across 40 countries general overview of Marks & Spencer SWOT analysis of Marks amp... Countries, 5 lots of difficulties for management Students, Aspirants & Professionals three years missteps. Here are the strengths in the lifestyle and retail sector budget or planned targets written by professional! Is an essential tool for analysis of Marks & amp marks and spencer competitors analysis Spencer & # x27 ; S has... Customer needs timely whether it is the PESTLE analysis of Marks & analyses... Help to retail industry some operation management theories are applied in the SWOT of! ; S businesses and operations the button below to request a report when hardcopies become available analyses the by... Library add to Library add to Library Remove in recent times the 1990s, close... Achieve a competitive advantage has always been Marks and Spencer has been busy closing around... Brand into China & India and plans to close 53 wholly-owned stores clothing business ( Ruddick G.! Spencer retail stores are there in the marketplace 2016, from the Telegraph, 2014 ) in...
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