Britain’s M&S expands on the internet enterprise to about 100 marketplaces
1 min readLONDON (Reuters) – British retailer Marks & Spencer has introduced 46 internet websites in new markets, growing its on the web achieve to above 100 international locations, it mentioned on Monday.
The team explained the expansion into countries from Argentina and Brazil to South Korea and Pakistan was component of its approach to speed up its on the net business enterprise.
When M&S posted initial-50 % benefits in November it documented a 75% raise in international e-commerce profits, underlining the shift in on line devote in the course of the COVID-19 pandemic.
“We’re targeted on turbocharging our on line organization the two in the British isles and internationally, and as portion of this we see a genuine chance in extending the variety of international locations the place we run an on-line channel even more,” said Paul Friston, M&S’s worldwide director.
The internet websites will offer M&S’s outfits and home goods.
In January rival John Lewis mentioned it was no extended pursuing worldwide expansion and experienced ceased its on the net supply services.
M&S, which also sells food items, has been hit difficult by the pandemic as lockdowns have shuttered most of its clothing house.
Shares in the group were up .5% at 1116 GMT, paring losses above the previous year to 5%.
Reporting by James Davey, Enhancing by Paul Sandle and Louise Heavens
