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Marks & Spencer to transfer Hong Kong, Macau stores to franchise partner

The move follows a strategic review by M&S last November

Reuters 

The logo of Marks & Spencer is seen in front of a store. Photo: Reuters
The logo of Marks & Spencer is seen in front of a store. Photo: Reuters

has opened talks to sell its wholly owned and to franchise partner Al-Futtaim, the said on Wednesday.

The food and clothing retailer said it has begun talks on the potential sale of the stores, which would continue to operate under the franchise. The talks are expected to take several months to complete.

The move follows a strategic review by last November, in which the company laid out plans to shut more than 80 at home and abroad as well as seek joint ventures and franchise partnerships to operate in fewer wholly-owned markets.

The and would continue to trade as normal, the company said on its website. 

has worked in partnership with since 1998 and today operates 43 across seven markets in the Middle East, Singapore and Malaysia.

First Published: Wed, August 30 2017. 15:20 IST
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