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UK retailer Marks & Spencer tweaks Chinese operations
03
Mar '15
UK retailer, Marks & Spencer said it is tweaking its Chinese operations by closing down a few nonperforming stores, while also stepping in to key cities like Beijing and Guangzhou.

As announced in April 2014, Marks & Spencer has reviewed the shape of its existing store portfolio to ensure it is best aligned with its strategic growth plans.

As a result, Marks & Spencer has taken the decision to close five of its supporting stores in the greater Shanghai region by August 2015.

“However, the retailer also has a firm intent to enter key cities such as Beijing and Guangzhou from 2015-16,” M&S said in a press release.

It will also continue to invest in its existing flagship store portfolio with the complete modernisation of its flagship store on West Nanjing Road in Shanghai during the autumn.

Continuing its ‘bricks & clicks’ strategy, M&S is leveraging ecommerce to strengthen brand awareness and reach across the country.

Following the popularity of its online stores on China’s leading websites, M&S launched a new dedicated kidswear store on TMall.com and a new clothing store on JD.com in January.

For the long term M&S is also in the process of evaluating potential partners as first set out at its International Investor Seminar in April 2014.

In line with its international strategy to focus on its flagship stores, M&S will also invest in modernising its stores in Hong Kong during 2015-16.

M&S will also grow its presence in Macau with the opening of a new 1,000 square metre store at The Venetian Mall in November 2015.

Established in 1884, M&S currently has over 840 UK stores and over 480 international stores across 59 territories in Europe, the Middle East and Asia. (AR)

Fibre2fashion News Desk - India

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