M&S in talks to sell its business in Hong Kong

Marks & Spencer has opened talks to sell its 27-store business in Hong Kong and Macau to franchise partner Al-futtaim as the British retailer continues to reduce its overseas footprint.

The group said yesterday that it had started discussions on the potential sale of the stores, which Alfuttaim would continue to operate under the M&S franchise.

Theasianretaileralready operates 43 of M&S’S stores across seven markets in the Middleeast,singaporeand Malaysia.

Paul Friston, M&S’S international director, said: “In November we set out our plans to create a more sustainable, profitable and customer-centric international business for M&S by focusing on our established partnerships.

“Al-futtaim is a key partner to M&S in Asia and the Middle East and we are both committed to putting the customer at the heart of everything we do”.

M&S first opened stores in Hong Kong in 1988 and said the business was profitable with a “loyal customer base”.