No-one likes M&S in Britain so they're going abroad
Marks & Spencer just can't cut it when it comes to selling clothes. Consumers don't like their clothes and aren't connecting with the M&S adverts, wondering who all those women are in the commercials. Everything about it is a bit fusty and pointless.
So with that, M&S are making eyes overseas, hoping that foreign people might like clothes that remind them of the kind of clobber you see worn in life insurance adverts.
M&S are looking to boost overseas profits by opening 250 new shops outside the UK. They've already got 455 on the go, but they want to make a serious move in places like India, China, Russia, the Middle East and Western Europe. They'll also be flogging their food too.
"M&S Food is in much demand globally. From toasted crumpets in The Hague to red wine in China, our international customers are very quick to tell us what their favourite M&S products are. This is why expanding our fresh food offer presents us with a strong growth opportunity," Steve Rowe, M&S Executive Director of Food, said.
You may recall that M&S tried something similar in 2001, which failed miserably. The plan thus far, is to open 100 stores in India, sell knickers and that to Saudi Arabia and in China, they've got no idea, but there's a lot of people there so it is always worth trying if you can afford the gamble. Concerning the latter, Tesco are currently struggling to make any impact at all.