M&S to transfer HK, Macau stores to franchise partner

Hong Kong

MARKS & Spencer has opened talks to sell its wholly owned Hong Kong and Macau stores to franchise partner Al-Futtaim, the British company said on Wednesday.

The food and clothing retailer said it has begun talks on the potential sale of the stores, which Al-Futtaim would continue to operate under the M&S franchise. The talks are expected to take several months to complete.