Marks & Spencer Embarks on China
According to the report by ISPO, Marks & Spencer—the largest retailer of clothing and food of Britain, plans to open more than 50 stores in China within the next five years. M&S said it will enter China either in Beijing or Shanghai, with more shops to follow in both cities. It looks forward to open the first store this year, and then five to ten within two years. “After that I would want to go much faster, up to 50 or so after five years.” said the CEO Sir Stuart Rose of M&S.
With 760 stores in more than 30 countries around the world, the British retailer is the largest clothing retailer in the country, as well as being a multi-billion pound food retailer. Since 2000, it has expanded into other ranges such as home wares and furniture.
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