Senior Correspondent, IndianRetailer.com & Retailer Magazine Feb 11, 2019 / 2 MIN READ
Marks & Spencer (M&S), the British multinational retailer, will be launching six more stores in the next two months in India.
Marks & Spencer started its first store in the country in 2001. In April 2008, the brand signed a joint venture agreement with Reliance Retail to form Marks & Spencer Reliance India.
Currently, Marks & Spencer has 71 stores across 30 cities such as New Delhi, Amritsar, Mumbai, Pune, Kolkata, Bangalore, Chennai, Kochi, Bhopal, Kanpur, Hyderabad and Chandigarh among others.
James Munson, Managing Director, Marks & Spencer Reliance India, said, "India has become increasingly an important market for us. We are now the largest market for M&S outside of our home market. We are 71 stores today and we continue to invest in this market. We opened nine stores in the last six months and it is our intention to open six more in the next 60 days."
Last year, the company clocked a revenue of Rs 908 crore. Marks & Spencer has been growing at a CAGR of 24% over the last five years.
The company denied reports of foraying into the food business in India, terming them as speculative, and said, it will focus on the home category, launched recently.
Marks & Spencer’s launch on Amazon.in is in line with its international strategy to work with established online marketplaces to benefit from their scale, infrastructure and local expertise, the company said.
Marks & Spencer's launch on Amazon.in is in line with its international strategy to work with established online marketplaces to benefit from their scale, infrastructure and local expertise, the company said.
Myntra also targets four lakh new customers during the sixth edition of its flagship sale
Copyright © 2009 - 2024 Franchise India Holdings Ltd