Marks & Spencer, the biggest garments retailer of UK, has planned to open the first department store next year in Shanghai. The company is also looking for the opportunity to open the department store in Beijing city.
Marks & Spencer will be the fifth global retail magnate to enter Shanghai city.
A Marks & Spencer official divulged that they would repurchase the shares worthy of one billion pounds and would invest in some new markets like China and India. All the department stores in China would be wholly owned by Marks & Spencer.
Many international retailers like SEARS, Marks & Spencer, control their brand stores as it brings bigger profit.
Fibre2fashion News Desk - China
marketing@alchempro.com
