M&S, which offers its own line of beauty products, is a small player in this market, but according to analysts is keen on expanding its share by selling more beauty products to its lingerie customers.

Bolland unveiled his strategic plan in November 2010 after identifying beauty as one of the most promising high potential for the retailer.

Meanwhile, M&S which is also the UK's seventh largest food retailer by market share said yesterday that it would launch a "Simply M&S" range of everyday food products and kitchen ingredients on Saturday.

The new range, would replace "Wise Buys" label, and would comprise 500 lines, rising to 800 in the autumn, including fresh meat, fruit and vegetables, eggs, milk and store cupboard products.

M&S said "hundreds of prices" had been cut and it would be independently checked by Brandview.co.uk to ensure they were competitive with rivals, particularly with J Sainsbury's "basics" and Waitrose's JLP.UL "essentials" own-brand value ranges.

According to a spokeswoman for M&S, on the like-for-like comparison 85 per cent of this range was equally priced or cheaper than Waitrose.

Last month Tesco, Britain's largest supermarket chain, dropped its "Tesco Value" range, replacing it with "Everyday Value".