LONDON, 2015-3-3 — /EPR Retail News/ — Marks & Spencer has today provided an update on the growth plans for its China business. In line with prior announcements Marks & Spencer has today confirmed that:
- Marks & Spencer has a firm intent to enter key cities such as Beijing and Guangzhou from 2015/16.
- It will continue to invest in its existing flagship store portfolio with the complete modernisation of its flagship store on West Nanjing Road in Shanghai during the autumn.
- As announced in April 2014, Marks & Spencer has reviewed the shape of its existing store portfolio to ensure its best aligned with its strategic growth plans. As a result, Marks & Spencer has taken the decision to close five of its supporting stores in the greater Shanghai region by August 2015. It has also reviewed its head office resource structure in line with growth plans.
- Continuing its ‘bricks & clicks’ strategy, Marks & Spencer is leveraging E-commerce to strengthen brand awareness and reach across the country. Following the popularity of its online stores on China’s leading websites, which during the last quarter saw its sales on TMall.com increase by 200% on last year, Marks & Spencer launched a new dedicated kidswear store on TMall.com and a new clothing store on JD.com in January.
- For the long term M&S is in the process of evaluating potential partners as first set out at its International Investor Seminar in April 2014.
HONG KONG & MACAU
- In line with its International strategy to focus on its flagship stores, Marks & Spencer will invest in modernising its stores in Hong Kong during 2015/16.
- Marks & Spencer will expand its Food store portfolio at convenient travel and city locations in Hong Kong during 2015/16. Since its update last year, Marks & Spencer has opened three Food standalone stores in Hong Kong during 2014/15, which have seen sales per square foot in line with its best performing Food stores in the UK.
- Marks & Spencer will also 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, 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.”
For further information, please contact:
Telephone: +86 21 63532288 x 131
M&S International Corporate PR
Telephone: +44 (0)20 8718 1980
Corporate Press Office
Telephone: +44 (0)208 718 1919
Out of Hours: +44 (0)208 718 2000
Notes to Editors
Further details on today’s update:
Marks & Spencer China
- Marks & Spencer’s first store opened in China in 2008.
- M&S Changzhou Wanda Plaza, Changzhou and M&S Wuxi Jiangyin Wanda Plaza, Wuxi, will close on 9 March 2015. M&S Jiangqiao Wanda Plaza, Jiading, M&S Wenzhou, and M&S Changzhou InJoy City, Changzhou will close between March and August 2015. Employees of these stores and the supporting head office functions will be fully supported during this process.
- Marks & Spencer launched its online flagship store on TMall.com in January 2013 offering clothing and food products. This was followed by the launch of its wine E-shop on JD.com in May 2014. In January, Marks & Spencer launched its new dedicated kidswear store on TMall.com offering over 300 quality, stylish kidswear lines and for the first time offer over 600 clothing products on JD.com.
Marks & Spencer Hong Kong & Macau
- Marks & Spencer opened its first Hong Kong store at the Ocean Centre shopping mall in May 1988 and now has 18 wholly-owned stores in Hong Kong. M&S opened its first Marks & Spencer Food store in Hong Kong at Wanchai in 2010 and currently has four standalone Food stores.
- Marks & Spencer opened its first store in Macau at the Cotai Strip Resorts Macao in August 2014.
About Marks & Spencer:
- Marks & Spencer is one of the UK’s leading retailers. M&S sells high quality, great value clothing and home products as well as outstanding quality food.
- Established in 1884, Marks & Spencer currently has over 840 UK stores and over 480 international stores across 59 territories in Europe, the Middle East and Asia.
- For more information please visitwww.marksandspencer.com/corporate