Marks & Spencer has signed a new franchise agreement in the Philippines with PT Mitra Adiperkasa Tbk, as the retailer looks to accelerate its international growth through strategic partnerships.
The deal will see M&S work with Universal Fashion Philippines Inc, a subsidiary of PT Mitra Adiperkasa Tbk, known as MAP, to relaunch its fashion, home, beauty and food offer in the market later this year.
The first store under the new partnership is set to open in Glorietta in Manila.
M&S has traded in the Philippines since 1984, but confirmed earlier this year that it would move to a new franchise partner to support its growth ambitions in the region.
MAP already operates M&S’ franchise business in Indonesia and Vietnam, where it has worked with the retailer for more than 26 years.
The move forms part of M&S’ wider international strategy, which focuses on building a stronger global brand through capital-light partnerships with fewer, larger and more strategic franchise partners.
M&S International managing director Mark Lemming said: “We are delighted to expand our partnership with MAP into the Philippines.
“Having played a pivotal role in driving our growth in Indonesia, MAP’s deep local expertise gives us confidence as we accelerate our growth plans in Southeast Asia.
“We know there is strong demand for the M&S brand in the Philippines, and we’re excited to reopen our stores and online channels later this year.”
MAP Fashion chief executive Sameer Prasad said the agreement marked an important milestone for the business as it grows its portfolio of international retail brands across Southeast Asia.
“The Philippines is an exciting and fast-growing market, and Manila is the ideal place to begin this next chapter for M&S,” he said.
“With its strong heritage, trusted quality and timeless appeal, M&S continues to resonate with consumers across generations.
“We look forward to strengthening the brand’s presence in the market and delivering an elevated retail experience for Filipino customers.”
M&S said the expanded partnership reflects its ambition to strengthen its international business by drawing on the local market knowledge, infrastructure and retail experience of established franchise operators.
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