Egypt's NUCA, SHMFF sign New Cairo land allocation for integrated urban project    CIB named Egypt's Bank of the Year 2025 as factoring portfolio hits EGP 4bn    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Oil prices edge higher on Thursday    Gold prices fall on Thursday    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt to swap capital gains for stamp duty to boost stock market investment    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    Egypt recovers two ancient artefacts from Belgium    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



British retailer Marks & Spencer to return to France
Group with outlets in Egypt plots renewed approach to western Europe
Published in Ahram Online on 01 - 04 - 2011

British retailer Marks & Spencer will return to France this year with a mix of stores in Paris and its first foreign website, 10 years after abandoning western Europe amid a storm of protests.
The move is the first major international step by Britain's biggest clothing retailer, which also sells homewares and upmarket foods, since chief executive Marc Bolland took the helm last May.
The focus on a single major city and the Internet also signals a new strategy for future foreign expansion, though Bolland declined to say which countries it might enter next.
Marks & Spencer (M&S) has been criticised in the past for a scattergun approach to expanding abroad. The 127-year-old group has more than 350 mostly franchised stores in over 40 countries and makes about 10 per cent of its sales abroad.
M&S said it would open a 15,000-square-foot store later this year at 100 Avenue des Champs-Elysees, one of Paris's most famous tourist streets, and look for other sites in major shopping malls in the city.
It will also open several Simply Food convenience stores in and around Paris, selling shortbread biscuits, tea and sandwiches, and launch a French language website to serve the whole country in November.
M&S closed or sold its loss-making western European business in 2001 to focus on one of a series of turnaround plans for its main British operations.
The decision drew howls of protests from customers and staff alike, with Parisians, deprived of M&S specialities such as ready-made chicken tikka masala, opening a book of condolences and a dozen workers occupying the city's flagship store.
Stuart Rose, who stood down as M&S boss last year, long argued that his predecessors' decision was a mistake, and Bolland had signalled he would look at western Europe again.
Analysts said it was sensible for the 127-year-old company to look to diversify away from the tough British market, and the new strategy suggested it had learnt some lessons from its chequered history of international expansion.
"They seem to be going into the market in a more sensible fashion, adapting to the local market environment," said analyst Kate Calvert at brokerage Seymour Pierce.
"This is something that's building up for the longer-term growth of the business. But they have rather a lot to do in the UK to address short-term issues," she added.
British store groups including Dixons, Home Retail and Mothercare have issued profit warnings in recent weeks as inflation surges and government cutbacks bite.
M&S, which serves 21 million Britons a week from nearly 700 stores, publishes fourth-quarter sales figures on Wednesday.
Bolland said France was an obvious place for the group to launch its new international strategy, as internet orders could be fulfilled from Britain, and the brand is recognised by over 70 per cent of French consumers.
The French business should be "very quickly profitable", he said on a conference call.
M&S first entered France in 1975 and was still making a profit from stores spread across the country when it left.
After a plunge in profits at the start of the recession, M&S has been fighting back with new food and clothing ranges, keener prices and improvements in purchasing and distribution.
Bolland, enticed from grocer Morrisons by a 15 million pound ($24 million) pay deal, said in November he would spend between 850 million and 900 million pounds over three years to revamp and open more British stores, as well as expand online and overseas.


Clic here to read the story from its source.