18 January 2023, Mumbai
Marks & Spencer has opened a 13,000 sqft store in Indore. This is the fashion brand’s second store in Indore and the third in Madhya Pradesh.
Marks & Spencer plans to open more stores and modernize existing stores. The omnichannel retailer has a presence in over 35 cities of India with over 96 outlets. 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 from online including its own website, app and markets like Ajio, Myntra, Amazon and Zivame.
Besides retail store expansion, the retailer would further push its digital presence and upscale product categories to suit the taste of local Indian customers. The target is to achieve up to one-third of business through online means. Marks & Spencer, one of UK's leading retailers, entered India in 2001.
