Cypriot group takes over Marks & Spencer’s franchise in Romania

Cypriot group Voici La Mode has completed the acquisition of British retailer Marks & Spencer’s franchise for Romania. The group will include in its portfolio the Marks & Spencer’s stores in the Baneasa Shopping City, Plaza Romania and Bucuresti Mall shopping centers. It also plans to open new stores. M&S had to close its other three stores in Romania, located in Iasi, Mega Mall Bucuresti and City Park Constanta, as it couldn’t find a solution for them. Voici La Mode currently owns and operates brands such as Dorothy Perkins, Wallis, Evans Arcadia Grup and Celio Men. The group is also active in the hospitality industry with the Café La Mode chain, which includes a catering business. Marks & Spencer entered the local market in 2000. Marks & Spencer exits the Romanian market after EUR 10 mln losses in 6 years editor@romania-insider.com