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By John Liu Thursday October 02 2008 Marks & Spencer Group Plc, the U.K.'s largest clothing retailer, opened its first store in China as part of the company's efforts to boost revenue outside its home market as British consumer spending slows. The 40,000 square-foot outlet in Shanghai is Marks & Spencer's biggest in Asia, surpassing its store in central Hong Kong, Richard Sweet, managing director for China, said at a briefing today. The shop employs about 100 workers, he said. China's ''middle class has grown, their incomes have grown, the retail market has grown and consumption has grown,'' Sweet said in Shanghai. ''Every single large European clothing retailer has appeared in Shanghai. It's not rocket science.'' Marks & Spencer has opened stores in Russia, Saudi Arabia and other nations as the weakest economic growth in the... [read full story]
