CANNES, FRANCE-Marks & Spencer, one of the most recognizable British retailers, is expanding like crazy internationally. Just don't expect them to come to the US, at least for a little while.
Jan Heere, a director for the London-based department-store chain, spoke here at the MAPIC retail conference at the Palais Des Festivals convention center. When I asked him whether or not M&S has plans to come to New York or other markets, he said that it's something the company has put thought to, but it currently has other expansion obligations.
"If we were there and truly succcessful, it would be positive," he said during the question-and-answer session during his keynote speech today. "[But] today going to the US would be a distraction [from our other expansion plans]."
So where is the retailer looking for growth right now? It is searching throughout Europe, Asia and the Middle East to open new stores. More specifically, it has eight stores planned for India throughout the year and five in China, mostly in Shanghai, during the same period.
M&S already has about 700 locations in the UK and 369 units in territories outside of its home country. The company strives for geographic diversity in an uncertain economy, Herre said.
"We don't want to be so dependent on the UK economy," he said. "We want to balance our business around the world."
If Marks & Spencer does somehow make it over to the US, shoppers would have one thing to look forward to -- a department store with fine food. The retailer has sold food in its UK stores for years and is now looking to do the same in its European locations.
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