M&S takes lead position in retail expansion in India

British label Marks & Spencer is on rapid retail expansion drive in India, leaving other luxury

brands like Mango, LV, Hermès, Forever 21 and Gucci behind. As per recent reports by real estate consultancy firm Jones Lang LaSalle, M&S has so far opened 37 stores in India, followed by clothing brand Mango with 19 stores and Zara with 13.

The brand also enjoys larger presence in India than in China. The British retailer has only 16 stores in China, while it has more than twice that in India. Even relatively lower-priced fashion retailer Forever 21 has more stores in India than in China. In fact, when considering China, Vietnam, Thailand, Philippines and Indonesia, only India and Philippines have five stores each, while Vietnam has none. China has only three Forever 21 stores. But Spanish brand Zara has stronger presence in China with 149 stores against just 13 in India.

The report states that there does seem to be a correlation between income growth and higher per capita retail space. For instance, China has the highest level of income growth as well a higher per capita retail space when compared to India. Also in India, the retail space is low mainly because the retail industry is still in its nascent stage.

M&S had earlier announced its plans to create a strong foothold in India by aiming to open 44 stores over the next three years, which it considers to be a top priority market and a sourcing hub for the company. The UK-based company is targeting opening around 80 stores by 2016, as a part of its ongoing strategy to become a leading international, multi-channel retailer. M&S plans to double its presence in India with its partner Reliance Retail and will see the country become M&S’s largest international market outside of the UK.