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.

EDITORIAL OF THE DAY

  • Enhanced allocations are needed for research to ‘Make in India’ for India

    Even as India flaunts its ambitious ‘Make in India’ initiative from February 13, it spurs several questions.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

The importance of Indonesia

A few weeks ago, the wo­rld was shocked by a ...

Rajgopal Nidamboor

Try to awaken the archaeologist within

Our mind is far ahead of René Descartes’ famous maxim, ...

Bubbles Sabharwal

Social media versus real life

It’s amazing how social media brings out the best side ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture