Marks & Spencer eyes double-digit growth in India

British clothing retailer Marks and Spencer (M&S) is all set create a strong foothold in India as it’s aiming to open 44 stores over the next three years, which it considers to be a top priority market and a sourcing hub for the company. After opening a store in Bandra, Mumbai, the company launched another one in Delhi this week, where the company introduced an extended range of beauty products along with other core product categories.  
As Venu Nair, Managing Director of Marks and Spencer Reliance India, says they are witnessing strong double-digit growth across all the business units. With demand for M&S brand across the country on rise, small town expansion is also on company’s agenda. After Kochi, Baroda, Surat and Chandigarh, it plans to shortly open a store in Kanpur.

The UK-based company is targeting opening around 80 stores in the market by 2016, as a part of its ongoing strategy to become a leading international, multi-channel retailer.

 The plans to double its presence in India with its partner Reliance Retail will see the country become M&S’s largest international market outside the UK. Recently Marks & Spencer’s Chief Executive, Marc Bolland declared M&S’s bullish India strategy before an event that celebrated opening of its flagship store in Bandra, Mumbai. “India is a priority market for M&S and working closely together with our partner Reliance Retail we have set a clear plan to build a leadership position here,” he said.