PARIS: Marks and Spencer (M&S) is re-entering the French retail market, the BBC reported.
The company intends to open a 15,000 square foot store on the Champs-Elysées in Paris later this year.
M&S closed all its European stores 10 years ago to focus on its core United Kingdom business.
According to the BBC, M&S is also in talks with its partner SSP to launch a number of its Simply Food stores under franchise in Paris as well as launching an international online service.
“It makes sense for the retailer to look outside the difficult United Kingdom market. Retailers such as Dixons and Mothercare have issued profit warnings this year as government cuts and rising inflation deter consumers from spending,” analysts told the BBC.
"This is something that's building up for the longer-term growth of the business. And they seem to be going into the market in a more sensible fashion, adapting to the local market environment, which is something M&S has been criticised for in the past.”
M&S is the United Kingdom's largest clothing retailer with a significant presence in the food market.
Source: BBC
