M&S signs new franchise agreement for the Philippines
M&S has signed a franchise agreement in the Philippines after announcing earlier this year that it would be moving to a new partner in the country.
The retailer, which has operated in the Philippines since 1984, will now work with PT Mitra Adiperkasa (MAP), which has run M&S’s franchise business in Indonesia and Vietnam for over 26 years.
Subscribe to TRBUnder the expanded partnership, M&S fashion, home & beauty, and food will be available by the end of this year, with the first store set to open at the Glorietta shopping centre in Manila.
The move forms part of M&S’s strategy to build its global brand through capital-light partnerships with strategic franchise partners in established markets.
Mark Lemming, managing director of M&S International, said: “We are delighted to expand our partnership with MAP into the Philippines.
“Having played a pivotal role in driving our growth in Indonesia, MAP’s deep local expertise gives us confidence as we accelerate our growth plans in Southeast Asia.”
Sameer Prasad, chief executive of MAP Fashion, said: “The Philippines is an exciting and fast-growing market, and Manila is the ideal place to begin this next chapter for M&S.
“With its strong heritage, trusted quality, and timeless appeal, M&S continues to resonate with consumers across generations.
“We look forward to strengthening the brand’s presence in the market and delivering an elevated retail experience for Filipino customers.”
