Marks and Spencer (MKS) is continuing to curtail international expansion, and is leaving the Chinese retail market this month. All 10 stores across the Chinese mainland will close. Adam Coulton, managing director of Greater China for Marks and Spencer, admitted escalating losses have prompted the decision.
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Analysts claim the brand failed to resonate with middle class consumers in China, despite the desire for quality products and Anglo-centric merchandise. Other challenges included expensive rents, which forced M&S to open in out-of-the-way locations in second or even third tier cities across the region.