UK: BP to open more M&S stores at petrol stations
BP is looking to expand its partnership with convenience retailer Marks & Spencer (M&S) by installing more stores at its gas stations, increasing profit and fending off competition, reports the Telegraph.
As petrol margins get tighter, oil giant BP is planning to further tap the convenience part of its service stations business in order to maintain and increase profits. After a successful partnership that began in 2004 there now 248 M&S stores at BP forecourts.
BP plans to open an average of one M&S store per week during next year, increasing the total number of stores by a fifth.
At the forecourt, M&S is in charge of selecting the products to sell, while BP operates the stores and earns an undisclosed part of the products that are sold.
The positive results of a strong relationship with a prestigious convenience partner such as M&S, has convinced BP executives to try to replicate the same model overseas at some of the 17,200 gas stations it owns across the world.
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