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Marks & Spencer owns 51 stores in Turkey as of 2022. Fiba Retail is the sole agent authorised to open Marks & Spencer stores in Turkey and Ukraine region. [134] Stores in the territories of Hong Kong and Macau were sold in early 2018 to Al-Futtaim Group, a Dubai-based long-term franchise partner. [135] [136]
More recently, many high street retailers have moved to retail parks, since retail parks offer cheaper rents and cheaper parking for customers. For example, in the UK, Marks and Spencer and Next have closed or downsized many high streets stores and moved them to retail parks. [4]
Fort Kinnaird is a large outdoor retail park in Newcraighall, located off the A1 in the south-east of Edinburgh, Scotland. Often known simply as "the Fort" to locals, it is currently [ when? ] the second largest retail park in the UK with 75 units occupied.
It also owns a 50% share in the UK retail business, Ocado.com (the other 50% is owned by UK retailer Marks & Spencer). [30] In 2023, the retail business accounted for around 90% of group revenue. [28] Since 2014, Ocado has supported Code For Life, a not-for-profit organisation which helps children learn computer programming. [31]
The company was renamed Marks & Spencer Financial Services in 1988, and Marks & Spencer Unit Trust Management was established to provide unit trust funds the same year. In 1989, personal loans were introduced, followed by interest-free loans for M&S furniture purchases in 1991. [4]
Customers using Marks and Spencer’s Sparks loyalty scheme will be able to apply for a new digital credit account, enabling them to borrow up to £500 for purchases.
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In 2000, the company shifted to the Marks & Spencer brand. The St Michael name was subsequently adopted as a 'quality guarantee' and appeared for a time as the St Michael Quality Promise on the back of food products, on the side of delivery vehicles and on in-store ordering receipts.
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