Home Fashion M&S to offload Hong Kong and Macau biz to franchisee partners

M&S to offload Hong Kong and Macau biz to franchisee partners

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Marks & Spencer is taking further steps to overhaul its overseas businesses by starting talks to sell its shops in Hong Kong and Macau to a Dubai-based conglomerate.

M&S to offload Hong Kong and Macau biz to franchisee partners
Al-Futtaim has worked in partnership with M&S since 1998 and today operates 43 M&S stores across seven markets in the Middle East, Singapore and Malaysia

Marks & Spencer said that the talks with Al-Futtaim follow its strategic review of its international businesses last year, which signalled a greater focus on franchise and joint ventures rather than wholly-owned stores.

The Hong Kong and Macau stores would continue to trade as normal, the company said on its website.

Al-Futtaim has worked in partnership with M&S since 1998 and today operates 43 M&S stores across seven markets in the Middle East, Singapore and Malaysia.

Established in 1884, the London-headquartered company has 979 stores in the UK and 454 stores in 55 international markets.