29
Feb
Marks amp;Spencer to invest 50M euro in expansion on the Balkans
Posted by: admin / Category: Bulgarian Property for sale, Commercial
lt;P gt;The largest British clothing retailer Marks amp;amp;Spencer Group Plc set up a joint venture with the Greek Marinopoulos Group to expand its business in Eastern Europe, Bloomberg reported on February 29. lt;P gt; lt;P gt;The British company acquired 50 per cent of Marks amp;amp;Spencer Marinopoulos BV, which manages 38 outlets under franchise in Greece, Romania, Bulgaria and Switzerland, for amp;nbsp; 50 million euro. Marks amp;amp;Spencer plans to open 50 new outlets on the Balkans in the coming years, Bloomberg said. lt;P gt; lt;P gt;The acquisition is a part of Marks amp;amp;Spencers expansion and investment strategy, which includes boosting the share of international revenues to between 15 and 20 per cent over the next five years. lt;P gt;