Marks & Spencer have not performance well in China market.
According to Bloomberg source, the famous British retailer decided to shut 10 Chinese high street stores, including a flagship store. Steve Rowe, chief executive of M&S, has announced to scale back globally and expected to renew his international business strategy for investors.
The retailer started its China adventurer trip since early 2015 and their store number has decreased from 15 in the early time to 9 in Shanghai and 1 in Beijing. Paul French, senior consultant of Bloomberg, stated that due to culture difference, British high-end brands could find their customer base in China.
More than that, not just in China, M&S’s international performance has dropped down by two percent by April. Despite its intention to expand into new cities in China, Steve Rowe seems to have changed his strategy.
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