For the British retail fashion and lifestyle brand Marks & Spencer, India has become the second largest market in globe after its home country UK – thanks to the double digit growth in number of stores across India in last fiscal year.
Just like many global giants, one of the fastest growing economies of the world – India has proved to be the largest markets – Marks & Spencer saw double digit growth in India and has emerged as its second largest market outside the United Kingdom. Recently, Marks & Spencer opened six new stores in different cities within last 48 days as a part of their expansion drive. The company was launched in India in 2001, and with the latest added stores, M&S now has 76 stores in 32 Indian cities – making India the largest market outside UK with a yearly turnover of Rs 908 crore in FY 2017-18.
The fashion and lifestyle retailer is now looking forward to expand even further in Indian market and venture out in some of the fastest venturing Tier II and Tier III cities. Being a global retailer of quality clothing, lingerie and beauty – M&S is also looking forward to add more local touch and relevance. In the latest efforts, the company launched “Rethink” campaign to engage with the customers by providing expert style advice and help Indian customers rethink their style and overcome their style dilemmas.
Other attractive services like presence of in-store stylists to help customers pick the best fashion pieces by breaking their thinking barriers and developing a versatile wardrobe inspired from international trends, helps M&S a stand out among the array of fashion retailers. For an experienced company established in 1884, with 400 stores and online presence in 33 countries – penetrating further in Indian market will be the mission for 2019-20.