Marks and Spencer Reliance India, a joint venture between Mukesh Ambani-run Reliance Retail and UK-retailer Marks and Spencer Plc, intends to open 15 stores in two-years, mainly in the metros, a top company official said.
“We are looking to open 10-15 stores in the next two years mainly in the metros. We’re aiming to open larger stores which will showcase a fuller range of our product catalogue,” said Marks and Spencer Reliance India, Head of Marketing, Nandini Sethuraman.
In order to display the wide range of product catalogue properly, the company desires to open spacious stores approximately 10-15.
Marks and Spencer announced plans to open 50 stores in India in the next five years when it formed the joint venture in 2008. The retailer said the target remains.
“Our plan is to open larger stores between 15,000 sq ft and 35,000 sq ft. By 2014, our aim is to have 50 stores. It all depends on momentum and right locations,” Sethuraman said.
Currently, the company has 18 stores across India in destinations such as Delhi, Amritsar, Mumbai, Pune, Ahmedabad, Kolkata, Bangalore, Hyderabad and Chennai with an average size of about 5,000 sq ft to over 22,000 sq ft in conjunction with Reliance Retail.
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