Recent announcement shows that Taiwan has not been a positive and lucrative venture for Marks & Spencer (MS).
The leading clothes enterprise from England has decided to close down the three franchise stores it opened just 14 months back in Taiwan.
While one of the outlets is located in Kaohsiung City, the two more are in Taipei.
M&S official said that the three stores were opened on trial basis to explore the Taiwanese market and its opportunities. Since this project has not been promising enough, the Company has decided to retreat.
Experts believe that the major reason for this outcome is the fact that most locals prefer to buy from department stores and malls.
However, the M&S franchise shops and stores in other countries and regions like India, Shanghai and so on are doing good business. The Shanghai franchise shop is the biggest in Asia, covering an area of nearly 4900 square meters.
Still, company is optimistic and hopes to set up an office in Taiwan.
source:Fibre2fashion.com
