MANILA, Philippines — Iconic British brand Marks & Spencer (M&S) has clarified that it is not leaving the Philippine market, despite the upcoming closure of its current stores managed by the SSI Group.
Key Transition Details:
- End of Partnership: M&S’s 20-year contract with the Tantoco family-led SSI Group will officially end in May 2026. SSI previously announced it would shut down all M&S branches by that time.
- New Franchise Partner: A spokesperson from M&S London confirmed that the company has decided to transition to a new franchise partner to support “ambitious growth plans” in the Southeast Asian region.
- Commitment to PH: The brand, which has had a presence in the Philippines for 40 years, emphasized its continued commitment to the country and its intent to bring the “best of M&S” to local customers.
What’s Next?
While the specific identity of the new partner has not yet been revealed, M&S stated it would share updates on its new growth strategy and store formats “in due course.”