Marks & Spencer mulling plans to revive European operations
01 Nov 2010
Marks & Spencer (M&S) is reportedly looking to venture into the European market from which it had made a controvercial exit a decade ago.
The retail giant is understood to have initiated talks with its European counterparts in a bid to buy back the outlets it offloaded in 2001.
The possibility of a volte-face comes following a review process started by new chief executive Marc Bolland who joined the company in May this year.
Bolland is said to be negotiating with both Spanish and French counterparts in a move which could lead to M&S opening a European front.
The firm's withdrawal in 2001 led to protests among its 3,550-strong continental workforce and spelt the end of its international expansion plans.
Meanwhile, rivals such as Tesco have been able to successfully leverage their European operations to make up the slump in British consumer confidence.
