(Photo from Google Maps by Osama Hassanin)
Doha: Marks and Spencer announced that it will retreat from owning stores in 10 countries. The good news for Qatar shoppers is that the brand operations in the country will remain unaffected.
The announcement also resulted in #Marks&Spencer hashtag trending in Qatar. The brand is quite popular among the young and professionals in Doha. Fashion conscious Seema Talreja’s, a Doha resident, first reaction on reading the report was to check if her favourite store in Villagio would be among the one to be shut.
“I am a regular there and they have good collection for working professionals. I am glad to know they will be operational,” she said.
Guardian quoted M&S chief executive Steve Rowe: “Internationally, we propose to cease trading in 10 lossmaking owned markets, but intend to continue to develop our presence through our strong franchise partners."
According to the Guardian report Rowe has already promised to lower its clothing prices and pay more attention to its most loyal group of shoppers, dubbed “Mrs M&S”.
M&S plans to focus its international business on a franchise model and would shut loss-making stores in 10 markets and cut 2,100 jobs overseas. The closures include 10 stores in China, seven in France, and all stores in Belgium, Estonia, Hungary, Lithuania, the Netherlands, Poland, Romania and Slovakia.
