Marks & Spencer in talks to franchise its Hong Kong and Macau stores
MARKS & Spencer is in talks to franchise its Hong Kong and Macau stores as it shakes up its international business.
The retailer has started discussions with long-standing franchise partner Al-Futtaim, which operates 43 M&S outlets across seven markets in the Middle East as well as in Singapore and Malaysia.
M&S said the 27-store Hong Kong business, where it has traded since 1988, is profitable with a "loyal customer base and strong brand awareness".
In November we set out our plans to create a more sustainable, profitable and customer-centric international business for M&S by focusing on our established partnerships
International director Paul Friston said it plans "a more sustainable, profitable and customer-centric international business".
He said: "In November we set out our plans to create a more sustainable, profitable and customer-centric international business for M&S by focusing on our established partnerships.
"Al-Futtaim is a key partner to M&S in Asia and the Middle East and we are both committed to putting the customer at the heart of everything we do."
"With significant scale and retail expertise in the region, we are looking forward to discussing the potential extension of our partnership to Hong Kong and Macau as we continue to grow and develop our business together."
M&S first opened stores in Hong Kong in 1988.