Marks & Spencer is looking to considerably increase its operation in India, with plans to open at least 50 more outlets in the country over the next few years.
The company is also looking at increasing its product range in the country, where it is present through a joint venture with Reliance Retail.
M&S Reliance India Pvt Ltd head of marketing Nandini Sethuraman told The Economic Times: "We currently have 14 stores across seven cities in India and further plans to open at least 50 new stores in India over the next few years.
"M&S believes India offers significant expansion opportunities and the potential is huge with a wider range of products, bigger M&S stores and a better brand experience overall.”
The total value of the initial investment in the joint venture is thought to be up to £29 million, with M&S investing up to £14.79m, and Reliance Retail up to 14.21m. Both parties are set to provide further funding in future.
