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M&S surprised by early Vietnam success

British fashion brand Marks & Spencer says it has already reached its one month sales target in Vietnam after just 10 days of trading.

M&S, which opened its first outlet in the country in Ho Chi Minh City’s Vincom Center in Dong Khoi two weeks ago, has been welcomed warmly by Vietnamese.

“We have been open for 14 days and have only started marketing now. But the response has been fantastic; we reached our one-month target in the first 10 days,” told Munish Rishi, country manager and senior VP, department store at franchisee, Central Retail Corporation, the franchisee of M&S in Vietnam.

Central Retail plans to open around 20 M&S stores in five to six years across Vietnam with initial focus in HCMC, where it will open its second and third stores.

It plans to expand to other major cities by 2016.

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