M&S completes exit from China

British retailer closes remaining online store on Tmall platform

British retailer Marks & Spencer Group has completed its withdrawal from China by closing its remaining online store on Tmall and selling its franchise business in Hong Kong and Macao after shutting down 10 brick-and-mortar stores on the Chinese mainland in 2016.

The London-based retailer said in a text message to customers that it was closing its online stores as part of a global restructuring exercise.