(MENAFN) Dubai-based Al-Futtaim has signed a sale and franchise deal for Marks & Spencer's (M&S) retail business in Hong Kong and Macau.
In a statement, M&S recognizes the firm's potential to turn into the new single franchisee for its retail in Hong Kong and Macau.
International director of M&S Paul Friston declared "we have substantially reshaped our international business, which has improved profitability and positioned us for growth. As one of the world's leading retail operators, with strong logistics capabilities and local expertise, Al-Futtaim is the ideal partner for us to develop and grow our business in Hong Kong and Macau."
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