Marks & Spencer to exit Philippines as SSI winds down operations by 2 May

Marks & Spencer is set to withdraw from the Philippine market, with franchise partner SSI Group confirming it will cease operating all M&S stores nationwide by 2 May.

The decision follows months of store closures and aggressive discounting that had fuelled speculation about the brand’s future in the country.

M&S has operated in the Philippines for more than three decades through the Rustan’s Group of Companies, which was acquired by SSI Group last year. At its peak, the British retailer ran more than 20 stores nationwide.

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In recent months, stores at TriNoma, Robinsons Manila, Marquee Mall and Ayala Centre Cebu have shut their doors, with reports of closure at SM Mall of Asia as well. The heavy discounting and visible stock depletion prompted online discussion among customers and retail observers.

The Philippine exit comes as M&S continues to recalibrate its international footprint. In the UK, the retailer has outlined plans to reduce its number of full-line stores from 229 to 180. “We’re focusing on bigger, better partnerships, which enable us to bring the best of M&S to the world,” said Mark Lemming, MD of international at M&S.

On 25 February, SSI confirmed that it would be winding down the business locally, with final operations set for 2 May. “This has not been an easy decision,” the management said. “Building Marks & Spencer in the Philippines has been a meaningful and rewarding chapter for our organisation. We are deeply grateful to our loyal customers, dedicated employees, and partners who have supported the brand through the decades.”

In a regulatory disclosure, SSI cited shifting market dynamics behind the move. “SSI believes it is both prudent and necessary to channel its energy and resources toward brands that reflect the current and future direction of the market,” it said. “While the company recognises the significance of this transition, it also views change as an essential part of growth.”

“Retail is constantly transforming,” it added. “Change is inevitable, tastes evolve, and therefore, so should we.”

SSI said it would work with employees, partners and stakeholders as the M&S business is wound down, with further details to be provided ahead of the closure. “We remain committed to the constant strengthening of our portfolio and delivering experiences that resonate with today’s consumers.”

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