Voici La Mode buys Marks & Spencer franchise in Romania

Cyprus-based group Voici La Mode has become the holder of the M&S franchise in Romania. It will take over three of the stores owned by Marks & Spencer in Romania, namely the ones in Plaza Romania, Bucuresti Mall, and Feeria (Baneasa Shopping City) shopping centers. The other three M&S stores in the local market, namely the ones in Mega Mall (Bucharest), Iasi, and Constanta, will be closed this fall as the British group hasn’t found a viable alternative for them. Marks & Spencer announced last year that it would withdraw from several markets where it operates directly and focus on franchise partnerships. The group yesterday confirmed having signing an agreement with Voici La Mode for continuing the operations in Romania. The group has had a long-standing franchise partnership with Marks & Spencer since 1960. It operates four M&S stores under a franchise system in Nicosia, Cyprus. Besides keeping three units from the old M&S network in Romania, the new franchise owner plans to open new stores in premium locations. Moreover, Voici La Mode intends to bring other international brands on the Romanian market. The group also holds the Celio, Wallis, Essence, and Dorothy Perkins franchises in Cyprus. Marks & Spencer exits the Romanian market after EUR 10 mln losses in 6 years editor@romania-insider.com