Marks and Spencer to open 50 stores in India in 3 years
British high street retailer Marks and Spencer (M&S) is to more than double its retail presence in India, targeting 50 stores in the next three years.
M&S currently operates 17 stores in India through a joint venture with Reliance Retail. Last week it opened its latest store in Chennai.
A spokesperson for M&S told just-style.com, the UK apparel and textile industry s online source, that the joint venture with Reliance Retail has allowed it to gain better control in India.
For M&S, market control means controlling the choice of location and space of its stores. In India, it is primarily looking at city malls: In India there are lots of great opportunities but a lot of it is about relying on the space becoming available, so we do want to open stores but it s about making sure we get the right locations, and the right shopping malls.
The spokesperson said future stores in Indian cities would offer a wider range of the M&S range: As well as trying to expand our presence, it s about getting the size of the store right. So where some of our franchise stores are a little bit small, the stores we are opening now, we re trying to build them a bit bigger so that we can offer a bigger catalogue.
M&S had formed the joint venture with Reliance Capital in 2008 assessing that local sourcing will help it lower prices for Indian consumers.
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