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02/04/2014
M&S To Open 250 Food Stores
Today at Marks & Spencer's Investor Seminar in Paris, the retailer unveiled plans for further international expansion with a focus on opening 250 new stores, growing its Food business and increasing its franchise operations.
In a series of presentations from the senior M&S team and Al-Futtaim, one of M&S’s key franchise partners, M&S revealed that, over the next three it will concentrate on growing International revenues by 25% and International profits by 40%.
M&S will achieve this by focusing on four key areas. It will grow its presence in existing markets and drive business in its priority markets of India, China, Russia, the Middle East and Western Europe. The company will also expand internationally with a ‘bricks & clicks’ approach by establishing flagship stores in key cities supported M&S Food stores and a full online offer.
It will also expand its Food business in Western Europe by opening c.20 standalone Food stores in Paris over the next three years, and rolling out fresh food in Europe through its franchise partnerships.
A further future opportunity will be exploited through the expansion of its new Lingerie & Beauty concepts in the Middle East and India.
Marc Bolland, M&S's Chief Executive, said: "Our strategy of becoming an International, Multi-channel retailer is more relevant than ever before because of the strong growth potential of International markets. We are focusing on Flagship stores to deliver brand presence and stand-out. We also see great opportunities in fresh Food and Lingerie & Beauty concepts."
(CVS/CD)
In a series of presentations from the senior M&S team and Al-Futtaim, one of M&S’s key franchise partners, M&S revealed that, over the next three it will concentrate on growing International revenues by 25% and International profits by 40%.
M&S will achieve this by focusing on four key areas. It will grow its presence in existing markets and drive business in its priority markets of India, China, Russia, the Middle East and Western Europe. The company will also expand internationally with a ‘bricks & clicks’ approach by establishing flagship stores in key cities supported M&S Food stores and a full online offer.
It will also expand its Food business in Western Europe by opening c.20 standalone Food stores in Paris over the next three years, and rolling out fresh food in Europe through its franchise partnerships.
A further future opportunity will be exploited through the expansion of its new Lingerie & Beauty concepts in the Middle East and India.
Marc Bolland, M&S's Chief Executive, said: "Our strategy of becoming an International, Multi-channel retailer is more relevant than ever before because of the strong growth potential of International markets. We are focusing on Flagship stores to deliver brand presence and stand-out. We also see great opportunities in fresh Food and Lingerie & Beauty concepts."
(CVS/CD)
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