Asian shoppers want European luxury stores, not its supermarkets

Britain’s Marks & Spencer Group Plc completed a regional pullback last year.

Britain’s Marks & Spencer Group Plc beat them to the exit by completing a regional pullback last year. For many of them, more immediate challenges loom closer to home, ranging from Brexit to protests and strikes in France. Many European chains “have had to redirect investment to protect their core operations,” said Nick Miles, head of Asia Research at the Institute of Grocery Distribution.

Metro agreed in November to offload its China business to Wumei Technology Group Inc Its Japan, India and Pakistan units have been cited as potential divestments by analysts.Marks & Spencer sold its Hong Kong retail operations last year after closing unprofitable outlets in mainland China and elsewhere, pointing to a fragmented store portfolio and lack of scale.

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