The remaining three M&S units in Romania will be closed this fall.
M&S confirmed on Tuesday it has signed a deal with Voici La Mode, which will take over the stores in Plaza Romania, Bucuresti Mall and Feeria (Băneasa Shopping City) in Bucharest.
“The business plan includes taking over three stores and opening new M&S stores in premium locations,” said Artemis Antoniadou, CEO of Voici La Mode.
The group has been working with Marks & Spencer since 1960 and operates four franchised M&S stores in Nicosia, Cyprus.
Voici La Mode plans to bring other international brands to the Romanian market. It currently owns and operates 14 retail stores in Cyprus, including Marks & Spencer, CELIO, Wallis, Dorothy Perkins and Evans. Voici La Mode also owns and operates five cafe/restaurants under the name Café La Mode.
In November 2016, M&S said it was to close its six clothing stores in Romania, as part of the plan to close down 53 stores in ten markets.
Marks & Spencer hasn’t found a viable alternative for its remaining three stores in Iasi, Mega Mall Bucharest and City Park Constanta and will close them in the fall.