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FINANCIAL NEWS
Marks & Spencer to expand presence in Egypt
17 Jul 2011
(MENAFN) Marks & Spencer’s (M&S) head of operations at Dubai’s Al Futtaim, Bruce Bowman, said that although Egypt went through political upheaval, the UK retailer would expand its Middle East’s presence by launching three new stores in the country, reported Arabian Business.
Bowman added that the company already had a store in Egypt, and by the end of this October, it would open a second one, followed by a third one later.
He also said that since Egypt had a population of around 80 million, it managed to attract major Gulf developers and retailers that looked for a real opportunity in the country.
It is worth noting that Majid Al Futtaim, the UAE developer manages eight supermarkets and two shopping malls in Egypt and by the year 2014, it will open a third one
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