Marks & Spencer, the UK's leading general merchandise retailer, Wednesday announced in Hong Kong the opening of its Asian sourcing office in Hong Kong.
As part of its continuing effort to offer better products at great value, Marks & Spencer is restructuring its buying functions. The new Asian sourcing office in Hong Kong is an important step in this process.
"It is essential to get exciting products into our stores as quickly as possible," the Chief Executive of Marks & Spencer, Stuart Rose, said. "We chose Hong Kong to set up our Asian sourcing office, as it offers high working efficiency, latest market information and extensive links to all major business destinations. Its proximity to the Mainland, and an ever increasing, and sophisticated supply base gives Hong Kong another distinctive edge."
The Director of Far East Procurement for Marks & Spencer plc, Hong Kong Regional Office, Stuart Mcivor, said Marks & Spencer was probably the last major European retailer to set up its own direct sourcing operation in the Far East.
"The retail value of garment sales in the UK is more than 6 billion US dollars. This presents a great opportunity for manufacturers in Hong Kong, the Mainland and South East Asia," Mcivor said.
According to Mcivor, the company has recruited 30 talented and experienced staff for the Hong Kong office and will naturally expand this as the business grows.
Marks & Spencer employs 65,000 people in its 399 UK stores and offices. Its international business includes wholly-owned stores in the Republic of Ireland and Hong Kong, franchises in 30 territories and the United States. It also has other sourcing offices in India, Bangladesh, Sri Lanka and Turkey.