Marks & Spencer Reliance India Pvt Ltd is a Joint Venture between Marks & Spencer plc and Reliance Retail, part of the Reliance Industries Group. The Joint Venture has been formed with the goal of establishing Marks & Spencer as a major retail brand in India.
Marks & Spencer has a 51% interest in Marks and Spencer Reliance India Pvt Ltd and Reliance Retail taking the remaining 49%.
Marks & Spencer Reliance India Pvt Ltd will have the right to operate Marks & Spencer stores in India, selling items such as women’s, men’s and children’s clothing as well as homewares. The aim is to open at least 50 new stores in India over the next five years, covering a million sq. ft of retail space.
This expansion plan is part of Marks & Spencer’s plans to grow its International business to 15-20% of Group revenues over the next five years.
