Marks & Spencer targets around 80 stores in India by 2016

Marks & Spencer (M&S) has confirmed its expansion plans for India, targeting around 80 stores in the market by 2016, as 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 of the UK.*

The vision to build a leadership position in the India market was unveiled by Marks & Spencer’s Chief Executive, Marc Bolland in Mumbai. This evening, Mrs Nita Ambani and leading Bollywood actresses, Bipasha Basu and Sonakshi Sinha, will join Marc Bolland at the official celebrations of M&S’s recently opened flagship store in Bandra in Mumbai.

Trading from 35,000 square feet over five floors, M&S Bandra is the partnership’ largest store in India with its most extensive range of exceptional quality, stylish products including over 300 exclusive products such as its Savile Row Inspired collection and per una Speziale. Tonight, M&S will debut its world-first Marks & Spencer Lingerie & Beauty department, which will see M&S sell make up for the first time in India.

As one of its priority international markets for growth and a key sourcing hub, M&S’s strategy for India comprises:

• Continuing to work in close partnership with Reliance Retail targeting around 80 stores in India by 2016;
• Focussing on building a leadership position in India including in cities such as Mumbai and Delhi by opening a cluster of supporting stores around its flagship store locations such as its new store in Bandra;
• Expanding into attractive secondary cities such as Surat and Kanpur;
• Capitalising on the growth opportunities in lingerie and beauty in the India market;
• Maintaining M&S’s local sourcing of exceptional quality products from South Asian suppliers.

Marc Bolland, M&S Chief Executive, said:”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. As the nation’s leading retailer operator, Reliance Retail is the perfect partner for us in India with extensive local expertise and experience, with strengths in infrastructure, logistics, technology and property.
“This combined with M&S’s brand loyalty and exceptional quality, stylish products, has seen us continue to deliver strong double digit growth in India. Now with 36 stores, we have the ideal platform to accelerate our growth in the market and see India become our largest international market outside of the UK by 2016.”

Sriram Srinivasan, Business Head – Apparel Reliance Retail, said: “We have successfully partnered with Marks & Spencer over the years to combine Reliance Retail’s expertise in retailing and understanding of the Indian marketplace with Marks & Spencer’s legendary product development capabilities to deliver a delightful experience for Indian consumers. We look forward to our continued engagement with Marks & Spencer towards the development and strengthening of our presence in India.”