British retail giant Marks & Spencer (M&S) has quashed rumours of a full exit from the Philippines, confirming it will remain in the market despite ending its decades-long franchise agreement with SSI Group. The retailer is now transitioning to a new local franchise partner as part of a strategic plan to expand its presence in the region.
Yesterday, SSI announced it would discontinue operations of M&S stores, with May 2 set as the last day of trading. The announcement fuelled speculation that M&S was leaving the country after more than three decades.
In a statement M&S clarified that it is transitioning to a new local franchise partner as part of a broader regional growth strategy. “We remain committed to the Philippines and the growth opportunity in the region. After over 20 years of partnership with the SSI Group, we have made the decision to transition to a new franchise partner to support our ambitious growth plans in the region. Our contract with SSI will end in May. We thank them for their partnership,” the spokesperson said.
M&S has been operating in the Philippines since the late 1980s, initially under the Rustan’s Group of Companies, which was acquired by SSI last year. Dubai-based Al-Futtaim Group operates M&S franchises in Hong Kong and Singapore and also distributes brands such as Reebok, Rockport, and Umbro in the Philippines.
Details of the new franchise partner and future store plans are yet to be disclosed, but M&S has promised further announcements in due course.
The clarification ensures that M&S’s apparel, food, and lifestyle offerings will continue in the Philippine market, signalling a strategic shift rather than a market exit.
