Marks & Spencer has set up a Greek joint venture and is in talks about a series of similar deals as the retailer looks to speed up its international expansion.
The 50-50 venture with Marinopoulus, the Greek franchisee that also works with Starbucks and Carrefour, involves M&S paying its partner €50m for half the new company’s share capital.
The new venture aims to open up to 50 stores in the region in the next few years.
Financial Times 01/03/08 page 18, The Times 01/03/08 page 58, The Independent 01/03/08 page 50
