Marks & Spencer casts eye over Latin America
Tuesday 09 September 1997
The team will also check out the Mexican market, though M&S said plans there were longer term.
The clothing group said it had opened its 10th store in Hong Kong at the weekend and planned to open another two in the region in the next 12 months. M&S, already the largest franchise store in South East Asia, also plans to expand in Indonesia and set up in Australia.
M&S's rapid expansion outside the UK is prompting Dewhirst, the retailer's second-largest supplier of men's and women's clothing, to follow.
Speaking at the group's half-year results to July, Tim Dewhirst said the company, which makes 88 per cent of its sales from M&S and supplies no other retailer, was planning to spend pounds 50m in the next two years on warehousing and factories, including two new factories in Morocco and a new plant in Indonesia which will make men's formal shirts.
Dewhirst has two factories in Morocco and sources from third parties in Indonesia.
The three new factories, which should open within 12 months, are thought to cost around pounds 4m each.
Mr Dewhirst said it was vital to move to where M&S needed it.
"We must be able to respond quickly. We work hand in glove with them. It's a real partnership," he said.
Dewhirst, one of the UK's best textile companies in a sector beset by falling prices, sources a third of its total output outside the UK, but reckons that proportion will grow to 50 per cent in three years.
Increased efficiency and higher volumes driven by innovations such as non-iron fabrics left Dewhirst's interim sales up a fifth to pounds 177m and margins 0.4 points higher at 7.8 per cent.
A spokeswoman for M&S, which, unusually for a UK retailer, has successfully built its brand overseas said: "Our ambition is to be a global brand. South America is in the early stages, but we have been sufficiently encouraged by an intial report to send a team there."
- 1 Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
- 2 18th century sex toy found in 'toilet of sword fighting school' in Poland
- 3 US? China? India? The 10 biggest economies in 2030 will be...
- 4 'I wish my teacher knew...': Young students share their 'heartbreaking' worries in notes
- 5 Rebecca Francis accuses Ricky Gervais of using 'influence' to target female hunters after receiving barrage of death threats
General Election 2015: David Cameron catching up in polls – but he badly needs a clear lead
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
South Africa xenophobic attacks: Shops looted and violence on streets of Johannesburg as foreigners are forced to hide in police stations
18th century sex toy found in 'toilet of sword fighting school' in Poland
'I wish my teacher knew...': Young students share their 'heartbreaking' worries in notes
The only black face in the Ukip manifesto is on the page about overseas aid
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...