Marks & Spencer has revealed its foreign (i.e. everything outside of the UK) strategy during a presentation in Paris. The main goal of the British chain is further expansion outside the UK.
International multichannel retailer
Marks & Spencer aims to reposition itself from a traditional British retailer to an international multichannel retailer. It hopes to grow its international presence, mostly in markets it has already penetrated like Europe and Asia, as well as its like-for-like United Kingdom turnover.
Western European growth will be created through additional stores and the further expansion of its online opportunities. The Marks & Spencer store in The Hague is considered to be a blueprint for future stores as it has already welcomed 350,000 people since it launched in February.
40 % additional profit
By 2016/2017, M&S wants to get a 300 million euro turnover in Western Europe (excluding Spain and Italy) and the international market has to get a 25 % turnover increase, while international profit has to increase 40 %. To achieve that, 250 new stores will contribute to the bottom line, 60 % of which will be franchise stores.
Marks & Spencer will consider its options to introduce daily deliveries of fresh food to stores in parts of Europe, with Belgium, the Netherlands and Northern France as main targets. Stores in other parts of Western Europe would have to wait an additional day for their deliveries.