M&S 'looking to expand into Russia and China'

High street retailer Marks & Spencer is considering opening stores in Russia and China, it was reported today.

The group, which recently saw off a £9.1bn (€13.8bn) takeover bid from retail tycoon Philip Green, is thought to be keen to roll out its franchise business further.

The group already has interests in 155 outlets in 26 countries.

Executive director of retail Mark McKeon, who is responsible for the group’s stores in the UK and overseas, was reported to be examining the potential for opening franchises in Russia and China, as well as other foreign markets.

An M&S spokeswoman said: “We won’t ever comment on areas we might be looking at. We are always looking at new opportunities for the franchise business.”

She added that chief executive Stuart Rose had made clear that the group would be focusing on improving its core UK business as a priority.