Twiggy, who first appeared in an M&S ad in 1967, fronts the spot, which takes the viewer back in time to the store's humble beginnings as a penny bazaar.
As the action progresses through the ages, Twiggy explains how the store has delivered innovation and quality in different eras, from the launch of the first drip-dry clothing in the 60s, to the introduction of sell- by dates in the 70s. The 60-second spot, which ends on the "quality worth every penny" strapline, broke in the central ad break of Coronation Street, on 18 May, and runs until 14 June.
A penny-per-item promotion is running in-store in conjunction with the new campaign.