M&S plans 10 new outlets in Saudi Arabia
The UK’s largest clothing retailer Marks & Spencer, plans to open 10 beauty stores in Saudi Arabia over the next two years, having seen the success of its two outlets already open in the kingdom, Reuters has reported. M&S said it plans to expand its overseas profits by 40% over three years with the opening of 250 stores. In the priority markets of Russia, China, India and the Middle East the brand will open mostly clothing stores to tap into demand for what it believes is a love of British goods. “We need to build a brand internationally and be dot-com ready. That’s where our future is,” M&S chief executive, Marc Bolland, told an investor seminar in Paris.