According to real estate platform Idealista, The company has already begun recruiting staff for the new store, which is expected to open later this year. La Vaguada shopping centre, which recently celebrated its 40th anniversary, already hosts other British retail giants, including Primark – a key competitor of Marks & Spencer in its home market.
Marks & Spencer first entered the Spanish market in 1994 with a store in central Madrid. Its arrival was a significant moment in Spain’s retail landscape, positioning the brand as an innovative and appealing option for local consumers. Renowned for its quality fashion and food offerings, Marks & Spencer quickly distinguished itself through its strong focus on sustainability and premium products, becoming a benchmark for those seeking a modern, healthy lifestyle.
During its time in Spain, Marks & Spencer expanded, opening several stores across different cities. Its focus on fashion and fresh, healthy food products resonated with the Spanish public. The brand also introduced food halls, which drew in customers seeking premium products. This model helped solidify Marks & Spencer’s reputation as a destination for exclusive, high-quality items.
Despite its early success, Marks & Spencer’s story in Spain took a turn in 2001 when the company decided to close all its stores as part of a broader restructuring strategy. This decision was driven by the need to concentrate on more profitable and sustainable markets. The brand’s exit left a gap in the Spanish retail sector, as many consumers missed the quality and distinctive offerings Marks & Spencer had provided.
Since Marks & Spencer’s departure, Spain’s retail landscape has evolved, with growing demand for high-quality products and unique shopping experiences. In this context, the brand’s return offers an opportunity to reconnect with loyal customers and attract a new audience. Marks & Spencer is re-entering the market with a refreshed approach, combining its signature products with contemporary trends to meet the needs of today’s consumers.
With this comeback, Marks & Spencer aims to re-establish its presence in Spain and reinforce its commitment to sustainability and quality. The company plans to open new stores in strategic locations, offering various products, from fashion to fresh, healthy food. However, it remains unclear if the brand will reintroduce any business lines beyond fashion in Spain.
Marks & Spencer closed the 2023 financial year, which ended on 24 March, with a 9% increase in sales and a 16% rise in profits. The company’s total revenue for the fiscal year reached £13.1 billion (€15.3 billion). Notably, the fashion and home accessories division grew by 5.3% year-on-year, generating £3.9 billion (€4.6 billion) in sales.
