Marks & Spencer ( M&S ) has confirmed it is slowing down its overseas expansion plans in China , due to the firm 's present economic woes . M&S had hoped to profit from its burgeoning , affluent middle class , however the faltering economy has meant that the pace of its expansion has been slower than expected ; and even though they have not seen the same dramatic slowdown as some other firms , especially the luxury brands , it is keen to avoid making the same mistake as Tesco , which grew too quickly in China . However , M&S also believe the slowdown will create some problems for the firm in the near future , in terms of freeing up prime retail space in China .
Marks & Spencer (M&S) has confirmed it is slowing down its overseas expansion strategy in China, due to the country's present economic woes. M&S had hoped to profit from its burgeoning, affluent middle classes, however the faltering economy has meant that the pace of its expansion has been slower than expected; and even though they have not seen the same dramatic slowdown as some other firms, especially the luxury brands, it is keen to avoid making the same mistake as Tesco, which grew too quickly in China. However, M&S also believe the slowdown will create some opportunities for the firm in the near future, in terms of freeing up prime retail space in China.