Hundred M&S Stores In India By 2016

Marks & Spencer (MKS.L), the largest clothing retailer of Britain, has announced that it will open a hundred stores in India by 2016 instead of 86 as planned last year.

Marks & Spencer

M&S, which runs 40 stores in the country, said the same-store-sales in India grew 13 percent in the fiscal year ended March 2014.

Same-stores-sales is a key performance metric for retailers and is used for measuring the growth of sales at stores open for more than a year. M&S, three years ago, identified India as a priority market. It was remarked by Chief Executive Marc Bolland that the clothing retailer is planning to offer more stylish and fashionable clothes to Indians after years of struggling with brand positioning in the country.

The company is expected to face stiff competition in India from the world’s biggest fashion retailer Inditex SA (ITX.MC) and its Zara brand. M&S operates in India in a joint venture with Reliance Retail, a unit of billionaire Mukesh Ambani’s Reliance Industries (RELI.NS).

“Together with our partner Reliance Retail, we are continuing to invest into accelerating our growth in India as we build a leadership position in the market,” said Venu Nair, Managing Director of Marks & Spencer Reliance India.

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