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M&S to double store count in India
12 Jul '10
2 min read
Marks and Spencer (M&S), the iconic UK based brand is planning to nearly double its store count in India from the present outlet count of 18. It is mulling adding up around 15-18 stores in the next three years, revealed a UK-based spokesperson of M&S in an exclusive interview to fibre2fashion.
M&S has partnered with Reliance Retail for its India operations, which has enabled them to transform their position in the market. Under its previous franchise relationship, they were a small premium retailer selling UK products at higher prices from small stores.
Through their partnership with Reliance Retail, M&S has been able to open larger stores and realign its prices by locally sourcing up to 38 percent of the products, with an aim to reach over 60 percent by 2012. Local sourcing provides M&S, with the flexibility to respond to market needs.
In this year alone, M&S has opened four new stores in India, giving it a total of 18 stores. The latest store was unveiled in Chennai recently. India presents M&S with a huge opportunity. With a population of 1.2 billion and GDP growth at 7.2 percent and with the right product and the right partner, M&S is well placed to take advantage of this.
The spokesperson informed that currently, M&S outlets are located in only Tier-I cities like, Delhi / NCR, Amritsar, Mumbai, Pune, Ahmedabad, Kolkata, Bangalore, Hyderabad and Chennai and as of now, they have no intention of stepping in to the Tier-II and Tier III cities and towns.
Their store size ranges from 5,000 sq ft to over 22,000 sq ft. In its Indian stores, M&S offers a range of clothing merchandise including womenswear, lingerie, menswear and kidswear and also homeware products.
M&S has partnered with Reliance Retail for its India operations, which has enabled them to transform their position in the market. Under its previous franchise relationship, they were a small premium retailer selling UK products at higher prices from small stores.
Through their partnership with Reliance Retail, M&S has been able to open larger stores and realign its prices by locally sourcing up to 38 percent of the products, with an aim to reach over 60 percent by 2012. Local sourcing provides M&S, with the flexibility to respond to market needs.
In this year alone, M&S has opened four new stores in India, giving it a total of 18 stores. The latest store was unveiled in Chennai recently. India presents M&S with a huge opportunity. With a population of 1.2 billion and GDP growth at 7.2 percent and with the right product and the right partner, M&S is well placed to take advantage of this.
The spokesperson informed that currently, M&S outlets are located in only Tier-I cities like, Delhi / NCR, Amritsar, Mumbai, Pune, Ahmedabad, Kolkata, Bangalore, Hyderabad and Chennai and as of now, they have no intention of stepping in to the Tier-II and Tier III cities and towns.
Their store size ranges from 5,000 sq ft to over 22,000 sq ft. In its Indian stores, M&S offers a range of clothing merchandise including womenswear, lingerie, menswear and kidswear and also homeware products.
Fibre2fashion News Desk - India
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