Marks and Spencer to spread its wings pan India

British retailer Marks & Spencer, which has a joint venture with Mukesh Ambani-led Reliance Retail, is looking out to open 50 new stores in India in the next five years. The JV between M&S and Reliance India Private Ltd already has 14 stores across India. In the joint venture, M&S has a 51 per cent stake while Reliance Retail, which is a part of Reliance Industries Group, has the rest. Marks & Spencer, after seeing a declining growth in its domestic market in the UK has plans of exploring possibilities in China, India and Eastern Europe. The retailer also announced overhauling of its website and e-commerce operation with a brand new look and a host of functions that will make the online shopping experience more satisfying.