M&S eyes 100 India stores

British retailer Marks & Spencer plans a rapid rollout in India to grow sales. M&S plans to open 60 new stores in the nation over the next two years, in addition to its existing 40 there. It is targeting to have around 20 lingerie and beauty stores by 2016, the first of which opened in Mumbai earlier this month. “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, MD of Marks & Spencer Reliance India. The retailer said performance in India is fairly satisfactory as like-for-like sales rose 13 per cent in fiscal 2013-14. M&S plans to open 250 new stores outside the UK over the next three years.

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