India is the most important market outside the UK for the UK-based apparel chain Marks & Spencer (M&S), Venu Nair, M&S’ Managing Director for Marks & Spencer Reliance India told presspersons on the sidelines of the Indian Retail Congress in Gurgaon last week.
Last year, the company opened 12 new stores taking its tally in India to 40. The company now plans to open another 40 stores by 2016 and taking its store count in India to 80, Mr. Nair informed.
M&S operates in India through 51:49 joint venture with Reliance Retail.
For 13 weeks to March 29, 2014, M&S’ clothing sales were up 1.3 percent in total, up 0.6 percent on a like-for-like basis.
“The International business continues to perform well. Our priority markets delivered a strong performance with strong growth in India, in our flagship stores in China and in the Gulf. We are pleased with the performance in Western Europe, with good improvement in Greece and Czech,” the company said in a statement.