M&S seeks Chinese partner

British retailer Marks & Spencer is looking for a partner to continue its growth in China.

It plans to follow the move of its British peer Tesco which partnered with China Resources Enterprises, combining their store networks in mainland China.

M&S is reportedly planning to shut down up to five stores in second and third tier cities but will open new ones in Beijing and Guangzhou.

Greater China MD Stephen Rayfield says the company aims to “work with a strong partner with excellent local experience and expertise and accelerate growth across China”.

The retailer has been in China since 2008, operating 15 company-operated stores.

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