M&S on the journey to expand business by reaching 80 stores in India in next 2 years

Marks & Spencer, UK-based retailer having experienced extremely successful growth in India is now planning to expand its business by looking at reaching 80 stores in India in two more years. M&S has been witnessing a double digit growth consistently for the past two year. However, Marks & Spencer does not offer products online in India.

In fact the business has growth here by 36 per cent. This is fuelled their growth plans and they are look forward to expanding rapidly. The reason they see the fantastic opportunity is that the brand is well accepted here, said Venu Nair, managing director, Marks & Spencer Reliance India.

Company sources its apparel from over 50 countries, of which India is also a part. For instance in spring summer, India produces more of cotton-based products so the sourcing may go up. But in autumn winter it would go down. However, even as they are in sync with the global range, there will be slight tweaks and adjustments in the offering. Their primary focus would be on right product.

The new store in Hyderabad is the 10th store in South India and the company is planning to add two more in Hyderabad within two months. They are expected to come up in GVK One and Prestige malls. Growing their presence in South India is important parts of their ongoing strategy to build leadership position in India. The company opened its first store in India in 2001 and in April 2008, entered into a joint venture with Reliance Retail