THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Marks & Spencer sells retail business in Hong Kong and Macau to Al-Futtaim

Marks & Spencer has sold the franchise of its retail business in Hong Kong and Macau to its longstanding franchise partner Al-Futtaim.

DEPARTMENT STORES

Marks & Spencer sells retail business in Hong Kong and Macau to Al-Futtaim

The sale means that Al-Futtaim has become the new sole franchisee for Marks & Spencer in Hong Kong and Macau.

The retailer has been working with  Al-Futtaim since 1998 when it opened Dubai’s first Marks & Spencer store. Following the purchase of 27 Marks & Spencer stores in Hong Kong and Macau, Al-Futtaim now operates 72 Marks & Spencer stores across 11 markets in Asia and the Middle East.
 
Paul Friston, Marks & Spencer’s international director, said: “We have substantially reshaped our international business, which has improved profitability and positioned us for growth. As one of the world’s leading retail operators, with strong logistics capabilities and local expertise, Al-Futtaim is the ideal partner for us to develop and grow our business in Hong Kong and Macau.” 

The sale follows a strategic review by Marks & Spencer of its international business in which it decided to increase its focus on its established franchise and joint venture partnerships and to operate with fewer wholly-owned markets.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy