Two new franchise deals will see Marks & Spencer’s move into Scandinavia, with plans for 15 stores to open across Norway and Finland.
Under an agreement made with S Group, the owner of Finland’s Sokos department store chain, a 3000m² store is due to open in Helsinki next month.
M&S is also preparing to open a food store in November in Norway, in partnership with Pocos Group, which already manages franchise outlets for Accessorize and The Body Shop and is planning to open seven more clothing and food outlets.
The expansion into Scandinavia is pivotal to M&S’ continued growth strategy within Europe.
The group is targeting an international sales increase of 25% and profit increase of 40% by returning to mainland Europe during this year. The group experienced a humiliating exit from Europe during 2001, but is now in the process of opening 30 Simply Food stores within France, where it has already opened a large store located on the Champs-Élysees in Paris. During February, it opened a store in The Hague and is intending to open one in Brussels during next year. The group is also considering stores in Madrid, Barcelona and Milan.
In totality, the group wants to open 250 stores globally.
23 SEPTEMBER 2014, Norway
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