15 November 2022, Mumbai:
Marks & Spencer has opened a store in Kolkata. This is the department store’s third store in Kolkata and with this Marks & Spencer has a total of 95 stores in India.
The new store measures 12,000 sqft and is spread over two floors. The store retails men’s, women’s, and children’s wear as well as accessories, lingerie, lifestyle goods, and beauty goods, among other products. Marks & Spencer now has stores in 35 Indian cities including New Delhi, Chennai, Bangalore, Bhopal, Kanpur, Hyderabad, and Chandigarh, among others.
M&S first entered the Indian market in 2001 and subsequently signed a joint venture agreement with Reliance Retail in 2008. Marks & Spencer is planning large format stores in Tier I cities across India. These will be 15,000 sqft and will showcase the entire M&S catalogue ranging from apparel to beauty and home. The plan is to set up at least one store every month across the country.
The company is also undertaking a digital expansion drive as it expects to generate nearly one-third of its business from online channels. Marks & Spencer generates a quarter of its revenues online including its own website, app, and markets like Ajio, Myntra, Amazon, and Zivame.
Marks & Spencer trades in 57 international markets with a brick-and-mortar presence and also retails in 33 markets online. The business was first established in the UK in 1884.