After its much-talked-about exit from the Philippines at the end of May, the beloved British brand Marks & Spencer (M&S) is back - with a new franchise partner, and a new store set to open in a Makati mall before year end.
According to reports, M&S will set up shop, pun intended, once again in the country with their new franchise partner, the Indonesian retailer PT MItra Adiperkasa Tbk (MAP) - whom they have worked with for over 26 years across Indonesia and Vietnam.
And their first order of business will be to relaunch the brand locally, starting with their M&S Fashion, Home & Beauty, and Food ranges with a shop in Ayala Center's Glorietta.
Rumors of M&S' closure in the Philippines started circulating sometime in March of this year, which had customers rushing to the stores to buy some of their most popular items at marked down prices. The move was a result of the end of the brand's franchise with the SSI Group, with all stores shuttered on May 2.
According to MAP Fashion CEO Sameer Prasad, they see the Philippines as a growing market, and taking on the M&S business is a major milestone, "reflecting our commitment to growing iconic global brands across SouthEast Asia."
For M&S, returning to the Philippines is an important part of their plans to expand the brand further in SouthEast Asia. “We know there is a strong demand for the M&S brand in the Philippines, and we’re excited to reopen our stores and online channels later this year,” shares Mark Lemming, managing director of M&S International.
For those who have been Marks & Spencer fans since they first landed in the Philippines in 1984, and were saddened by their leaving - this is very very good news.
