Marks and Spencer has agreed terms to open its first store on the Spanish high street amid plans to shut down around 100 of them in the UK.
The bellwether retailer has chosen Malaga for its new location, which will be its second site in Spain and but its first on the high street.
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Its first store in Spain opened in 2009 and is located at the La Cañada shopping centre in Marbella.
While the new store in Malaga is 4305sq ft in size and situated in the historic centre of the city, it will only house M&S’s lingerie line compared to the full-range branch at the shopping centre in Marbella.
The news comes M&S ploughs ahead with its five-year turnaround scheme, aiming to make cost reductions of £350 million by 2021.
This includes plans to shut down 100 underperforming stores by 2022, putting hundreds of jobs at risk.
The turnaround scheme also includes creating fewer, more efficient yet enhanced clothing and home stores, online investment, as well as converting some stores to food-only.
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3 Comments. Leave new
We have visited – very unimpressed – such a retailing provenance BUT they do not appear to have understood the Spanish woman and her love of colour and UN-traditional styling! Found the offer boring and depressing – expected So much more. Take a look M&S at your opportunity!.
There was an M&S in Madrid in the 90s. Not really a first.
There was a M&S store in Madrid around 27 years ago. This is not the first or the second.