M&S has become the latest retail giant to dive deep into incubator-land and has partnered with Founders Factory to launch Founders Factory Retail, a joint venture partnership focused on discovering and developing start-ups. M&S will be Founders Factory's exclusive UK retail partner, and will invest in a number of start-ups, sourced through Founders Factory's global network, "which will expose the business to new technologies, business models and entrepreneurial thinking, as it seeks to put digital at the heart of its transformation strategy." The retailer will also be the majority shareholder within the JV which "will build a portfolio of investments in fast growth start-ups, which it will seek to grow and scale." It's a bold move for the company and the retailer's CEO Steve Rowe said the deal "gives M&S access to a global network of start-ups and entrepreneurs which will provide disruptive thinking and questioning to the way we work at a time of critical transformation within the business. Founders Factory has a great track record in creating successful businesses and by investing in new innovative technologies and products we hope to change the way we work and operate."

The retailer also recently announced a strategic partnership with Microsoft, which is testing the capabilities of technology and artificial intelligence in a retail environment.

press release "MARKS & SPENCER PARTNERS WITH FOUNDERS FACTORY AS EXCLUSIVE UK RETAIL INVESTOR"