New Delhi: Marks & Spencer is planning to open 60 more stores in India by 2016 in order to claim a “leadership position” in the domestic retail market. The retailer “plans to open a total of 100 stores by 2016,” M&S said in a statement on Tuesday.
At present, M&S operates 40 stores in India through 51:49 joint venture with Reliance Retail. A total of 100 stores also include 20 lingerie and beauty stores.
Commenting on the announcement, Marks & Spencer Reliance India MD Venu Nair said: “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. The strong performance of our products presents us with an exciting growth opportunity,” he added.