M&S seeking partner to storm Mainland China

Marks and Spencer (M&S) is seeking a partner in China with excellent local experience and expertise in a concerted bid to help accelerate its growth across the country. Following the successful joint venture the British supermarket chain Tesco enjoys in China, M&S might consider closing up to five stores in second or third-tier cities in order to focus on opening in major metropolises like Guangzhou. Managing director of the UK-based retailer Stephen Rayfield notes that Hong Kong and Shanghai returned an excellent sales performance last year. In addition, M&S will soon open its first store in the territory to expand its food store business in Hong Kong and Macau.