M&S Invested Heavily In The Indian Market

Britain's largest Clothing retailers M&S released a statement on the 11th local time in the UK that it plans to work with its Indian partner RelianceRetail to build India into the largest international market outside the UK. By 2016, it will have 80 stores in the Indian market, twice the current distribution network.

Marks&Spencer Group PLC (LON: MKS) M&S said it would continue to focus India At the same time, it hopes to increase the sales of beauty and underwear products in the Indian market and increase the purchase of higher quality raw materials from South Asia on the basis of procurement principles.

(From left to right) Mukesh Ambani, Chairman of the Board of Directors and General Manager of Reliance Retail, Sonakshi Sinha, Bollywood star, Nita Ambani, Mrs. Mukesh Ambani, Bollywood star Bipasha Basu, M&S CEO Marc Bolland

Marc Bolland, CEO of M&S, said that the Indian market is a priority market when attending the opening ceremony of the group's new flagship store in Mumbai, and has established a leading position in India on the basis of cooperation with local retail partner RelianceRetail. Marc Bolland said that M&S has a strong double-digit growth in the Indian market. Up to now, M&S has 36 stores in India.

Sriram Srinivasan, Commercial Director of RelianceRetai Clothing Department, will continue to help M&S maintain its leading position in the Indian market on the basis of successful cooperation with M&S.

This plan was launched by M&S at the opening ceremony of its first Indian independent underwear and beauty flagship store on the evening of November 11. According to Marks&Spencer Group PLC (LON: MKS) M&S, underwear sales currently account for more than 20% of the Indian market, and underwear product sales have increased by more than 33% in the past 18 months. According to Euromonitor Euromonitor, the underwear market in India was 1.8 billion pounds in 2012, and will grow by 54% by 2017. M&S said its second underwear and beauty independent store will open in Delhi on November 15, 2013.

In 2008, Marks&Spencer M&S has established a cooperative relationship with Indian retailer RelianceRetail. Since April 2013, M&S has added 7 stores in the Indian market, of which the number of stores in Mumbai has doubled. In addition, it has also entered Kochi Kochi and Vadodara Waldora and other cities for the first time, with a total business area of 500000 square feet from India. M&S plans to add 8 stores in India next year, and another 36 stores in 2015 and 2016.

According to India's overseas retailer procurement rules, India is also an important M&S procurement market for M&S. 33% of its general commodity department products are purchased from India, while 64% of the products sold in the Indian market are purchased from India.

Marks&SpencerRelianceIndiaPvt Ltd

M&S just released its semi annual report last week, and clothing sales have declined for the ninth consecutive quarter, although it has improved. The same store sales of the general commodity sector, which is dominated by clothing sales, declined by 1.5% over the same period last year, including 1.6% in the first quarter and 1.3% in the second quarter as of September 28, 2013, which is better than the 1.5% predicted by analysts and the smallest decline in more than two years.