Retail News India: Marks & Spencer’s plans to double the number of stores in India by 2016.they are planning to open 40 new stores in this period of time. Company is in joint venture with Reliance Retail through 51:49 percent in India. At present company is having 42 stores across India.
Before getting in agreement with Reliance Retail. Marks & Spencer’s was operating with Indian franchise partner Planet retail for period of 7 years between 2001-2008. M&S aims to be most sustainable retailer across the globe, They want to replicate their Indian market learning to international market. Focus is to turn all Indian outlets on line of its Delhi store which holds Leadership in Energy and Environmental Design (LEED) in gold standards and M&S Bangalore store has a silver standards developed by US Green Building Council.
The retailer plan to open 250 new stores outside the U.K in the next 3 years as part of its global expansion strategy, which also have Western Europe and the Middle East in terms to pursue its plan of growing international sales of M&S by 25 per cent and profits by 40 per cent.