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Manila Bulletin devider Business devider The Stock Market devider M&S denies Philippines exit after partner SSI plans store closures

M&S denies Philippines exit after partner SSI plans store closures

Published Feb 27, 2026 06:29 am
Marks & Spencer Group has clarified that it has no plans to withdraw from the Philippines, moving to calm market jitters after its long-time local partner, SSI Group Inc., announced it would shutter its M&S operations by May 2026.
The London-based retailer stated on Friday, Feb. 27, that it remains committed to the growth opportunities in the Philippines, despite the looming termination of its decades-long relationship with the country’s largest specialty store operator.
While the partnership with the Tantoco-led SSI Group is ending, M&S said that the brand is simply moving in a new direction.
“Our objective is to build a trusted global brand by bringing the best of M&S to customers around the world. We remain committed to the Philippines and the growth opportunity in the region,” a spokesperson for Marks & Spencer said. “After over 20 years of partnership with the SSI Group, we have made the decision to transition to a new franchise partner to support our ambitious growth plans in the region.”
The company said that the contract with SSI will officially conclude in May 2026. “We thank them for their partnership,” the spokesperson added, noting that the brand looks forward to “sharing updates on our growth plans in due course.”
The clarification follows a disclosure by SSI Group on Wednesday, Feb. 25, confirming that its subsidiary, Stores Specialists Inc., would wind down the brand’s local presence under their management.
SSI said the exit was a strategic realignment of its portfolio to better match shifting consumer preferences.
The move concludes a partnership that began in the late 1980s and saw M&S become a staple of Philippine malls. However, the British retailer’s latest statement confirms that the brand's signature apparel and food offerings will continue to have a footprint in the market under new leadership.
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