UK retailer Marks & Spencer told just-food today (21 June) that it was expanding its overseas business, but declined to confirm reports that the company planned to open 150 new international outlets.
Go deeper with GlobalData
The Guardian newspaper reported that the retailer was considering plans to open 150 new stores abroad, the majority of which would reportedly be franchising operations.
“That number is purely speculative,” an M&S spokesperson told just-food. “We do already have a healthy franchise operation overseas and we are expanding our business there.”
M&S currently operates in 29 countries, with 198 franchised stores worldwide and 19 wholly owned outlets in Hong Kong, Ireland and Gibraltar.
In May, M&S CEO Stuart Rose announced plans to invest GBP570m on refurbishing 35% of the companies UK shops. At that time, Rose commented that the focus of the fashion, food and home accessory retailer’s overseas operations was franchised outlets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
