What: Marks & Spencer has acquired the intellectual property rights of the fashion personalisation website Thread.

Why it is important: Marks & Spencer’s co-chief executive expects that this addition to the retailer’s current personalisation offer will help boost sales by 100 million pounds a year.

Thread collapsed into administration, leading to a pre-packed deal providing Marks & Spenser with source codes and algorithms that the retailer will integrate into their website to improve clothing recommendations for size, style and budget.

As well, M&S will hire 30 of Thread’s staff, including founders Kieran O’Neill and Ben Phillips.

Marks & Spencer acquires Thread’s technology for personalisation