British clothing and food retailer Marks & Spencer has opened its first store in Beijing, located in the CBD area.
Costas Antimissaris, International Director of the retailer, says their strategy is to focus on big cities.
"Our strategy is to penetrate tier-one big cities in China where we have a very big middle class and upper middle class that know our brand, that really want our brand in their cities, and that is our strategy to progressively be able to be in all these markets, and depending on the opportunities, on the real estate, and on the local, we will accelerate, but we really have to be selective and find the right balance between online and physical stores."
The firm added that they are also looking to expand online through its online sites on Chinese marketplaces Tmall.com and JD.com.
M&S now has about 10 stores in the Shanghai region and about 20 in Hong Kong, meaning China represents a small percentage of its overall international estate of more than 500 mainly franchised stores.
In the six months to September, M&S's international sales fell 5 percent.
It said revenue in Greater China was up, without giving details.
