M&S expands in the east
MARKS & Spencer has signalled an expansion in eastern Europe, having snapped up a 51 per cent stake in its franchise partner COMS for 13.6 million (£10.5m).
The business operates 13 M&S stores in the Czech Republic, Slovakia, Latvia and Lithuania. The new joint venture plans to open about 30 more stores in those markets, as well as Estonia. M&S wants overseas operations to bring in 15 to 20 per cent of revenues by 2011.
Original source : The Scotsman
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