Marks & Spencer sets out plans for China business
Marks & Spencer has announced plans to grow its China business by entering key cities such as Beijing and Guangzhou.
It will also modernise its flagship store on West Nanjing Road in Shanghai.
However, the retailer has also taken the decision to close five of its stores in the greater Shanghai region by August 2015 following a review of growth plans in the country.
Other plans include modernising its Hong Kong stores and expanding the Hong Kong food store portfolio at travel and city locations.
In addition, the retailer will grow its presence in Macau with the opening of a new 1,000 square metre store at The Venetian Mall in November 2015.
Patrick Bousquet-Chavanne, Marks & Spencer’s executive director for marketing & international, said: “Last year, we reaffirmed our commitment to our Greater Chinese business and set out clear strategic plans. Today we can share more details of our continued investment across our priority markets of China, Hong Kong and Macau. This includes the modernisation of our flagship stores, entering new key cities, growing our Hong Kong Food store portfolio and expanding our reach across China through new sites on TMall.com and JD.com.”
