It is true that India is a dream location for many fashion brands, India is the second largest market for Marks and Spencers and the retailer is looking for a double digit in the next fiscal. According to the latest report, M&S has opened a new store in Hyderabad and Chennai. The brand is also looking to expand its market into tier II and III cities as a part of its expansion. According to the MD James Munson India is the second largest market for Marks and Spencers outside the UK.
For the brand, India is a strategic market where acceptance of international brands has a space to grow, according to recent openings the brand has 76 stores across 32 cities and is expanding its presence. As part of its expansion drive, M&S has opened six stores in the last 48 days.
The company clocked a turnover of 908 crores in the 2017-18 market and expects to grow.M&S opened its first store in India in 2001 and in April 2008 signed a JV with Reliance Retail to form Marks & Spencer Reliance India Pvt Ltd.