UK retailer M&S is set to expand its presence in India in partnership with Indian retail giant Reliance Retail, a subsidiary of Mukesh Ambani led Reliance Industries Limited (RIL).
M&S, currently the number one provider of womenswear and lingerie in the UK, operates 19 stores India and plans to open an additional 10 stores over the next few years.
M&S chief executive Marc Bolland said: “We have accelerated the pace of growth in the Indian market, in working with our partner Reliance Retail. Over 50 percent of our products are sourced from the region, which provides a better tailored proposition for Indian customers.”
Reliance Retail already operates across a number of sectors in India, with subsidiaries including Reliance Fresh, Reliance Mart and Reliance Super. Speciality formats include Reliance Digital, Reliance Trends, Reliance TimeOut, Reliance Footprint, Reliance Wellness, Reliance Jewels, Reliance Autozone and Reliance Living.