Marks & Spencer plans 100 stores by 2016, eyes top spot in India

UK-based apparel chain Marks & Spencer (M&S) is planning to open 60 more stores in India by 2016 in order to claim a "leadership position" in the domestic retail market.

The retailer "plans to build a leadership position in the Indian market, targeting a total of 100 stores by 2016," M&S said in a statement today.

At present, M&S operates 40 stores in India through 51:49 joint venture with Reliance Retail. A total of 100 stores also include 20 lingerie and beauty stores.

Commenting on the announcement, Marks & Spencer Reliance India Managing Director Venu Nair said: "Together with our partner Reliance Retail, we are continuing to invest into accelerating our growth in India as we build a leadership position in the market.

"...The strong performance of our lingerie and beauty offer presents us with an exciting growth opportunity," he added.

M&S opened a standalone lingerie and beauty store in Mumbai earlier this month.

"The move capitalises on the growth opportunities in the lingerie and beauty in the Indian market - M&S saw its lingerie and beauty sales increase by 38 per cent and 26 per cent respectively in the previous (fiscal) year," it added.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The NDA government would do well to keep its economic focus in place

    It is as if the worst horrors conjured by liberal secularists about India’s prime minister could be finally coming true.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture