M&S India sees women's and lingerie drive growth, 8 stores to open
The British brand Marks & Spencer has reported that sales of womenswear and lingerie have grown by 40 percent from financial year (FY) 2014/15 to FY 2016/17 and they have become the company’s fastest growing categories in India.
On February 15, Marks & Spencer announced that sales in womenswear and lingerie are driving the brand’s growth in India as these categories have become the brand’s highest sellers here.
“We continue to focus on key areas for the business such as women’s wear and lingerie, where we have seen significant growth in recent years,” said Marks & Spencer’s India Managing Director, James Munson.
Although Munson did not specify the brand’s finances, he stated that the brand’s womenswear and lingerie category has grown by 40 percent in India.
Marks & Spencer, which currently has 63 stores in India and has been expanding by eight stores a year for the past three years, also plans to open eight stores in 2018.
The brand’s largest brick and mortar presence is in Mumbai where it now has 11 stores.
Marks & Spencer is partnered with Reliance India for their Indian operations and, this week, partnered with the fashion e-commerce site Jabong to help strengthen their online presence. The brand is also online with Amazon, Myntra, and Ajio.
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