Marks & Spencer, the doyen retailer of Middle England, has announced plans to open up to 50 stores in China within the next five years. Outlets in Shanghai and Beijing will open this year.
M&S said it will enter China either in Shanghai or Beijing, with
with more shops to follow in both cities. "We are negotiating for
specific sites focusing on Shanghai and Beijing and will open the first
store this year, and then five to ten within two years", CEO Sir Stuart
Rose was quoted by BlackEnterprise.com. "After that I would want to go
much faster, more than 50 or so after five years."
Marks & Spencer has more than 600 stores in the UK and 240 stores worldwide.
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