for the Philippines with Indonesian retail giant PT Mitra Adiperkasa Tbk (MAP), paving the way for the reopening of its stores and online channels later this year.
The development came after Tantoco family-led specialty retailer SSI Group announced that it would shut down all M and S stores in the Philippines by May.
Under the new partnership, M and S will offer its fashion, home and beauty, and food products in the country, with its first store set to open at Glorietta before yearend.
The move expands MAP’s longstanding relationship with M and S, having managed the brand’s franchise operations in Indonesia and Vietnam for more than two decades.
M and S said the agreement forms part of its strategy to grow through franchise partnerships in key international markets while working with a smaller group of strategic operators.
The British retailer has been present in the Philippines since 1984 and earlier this year announced plans to transition to a new franchise partner as it pursues growth opportunities in Southeast Asia.
‘We know there is strong demand for the M and S brand in the Philippines, and we’re excited to reopen our stores and online channels later this year,’ said Mark Lemming, managing director of M and S International.
MAP Fashion CEO Sameer Prasad said the Philippines represents an attractive growth market and that Manila would serve as the starting point for the brand’s next phase of expansion in the country.