Marks & Spencer unveils investment plans for China

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Marks & Spencer is set to enter key cities in China such as Beijing and Guangzhou in 2015 and 2015. Specifically, it said 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.

It said it will also invest in modernising its stores in Hong Kong and expand its Food store portfolio at convenient travel and city locations.

Since its update last year, Marks & Spencer has opened three Food standalone stores in Hong Kong in 2014 and 2015, which have seen sales per square foot in line with its best performing Food stores in the UK.

Macau is next in line 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, the reaffirmed its commitment to Greater Chinese business and set out clear strategic plans.

While, continuing its ‘bricks & clicks’ strategy, Marks & Spencer said it is also 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 percent on last year, Marks & Spencer launched a new dedicated kidswear store on TMall.com and a new clothing store on JD.com in January.

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, the company has also 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.

(Retail in Asia)

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