Al Futtaim, is the franchise partner for Marks and Spencer’s in the Middle East. They operate 28 Marks & Spencer stores across the region, 13 of which are in the UAE. The largest Marks & Spencer store in Abu Dhabi opens at Yas Mall with over 4000 square metre shop.
“We’re delighted to be opening our largest store [in the city] at Abu Dhabi’s brand new retail and leisure destination,” said Mark Koprowski, Marks & Spencer’s regional director for the Middle East.
“Securing prime flagship shopping locations like Yas Mall with our franchise partners is an important part of our international growth strategy. As one of the world’s leading retail operators, we are pleased to be continuing to build our presence in the Gulf with our long-standing partners Al-Futtaim.”
It was reported that the brand was not excelling at its best earnings in the Middle East region. In other words, the group’s revenues from the Middle East dropped 24.4 per cent to £93 million (Dh535.9m) from £123m in the same period the previous year. That compares to overall revenue growth in the same period for the group of £4.9 billion, a 0.5 per cent increase from the corresponding period last year.
“Our franchise business has been impacted by currency and political issues in our Middle East region and lower shipments,” Marks & Spencer said in a statement this month.
Source: The National News
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