Newsline-National | July 2014
Marks & Spencer expands JV with Reliance Retail
Retail in India is going places. The retail industry which started off from the Kirana shops many years ago now has stern competition from multi-brand retailers, many of whom are not of Indian origin. One such retailer is Marks & Spencer, a UK-based retailer that has seen a lot of success since opening up a few stores in metros. The British Retailer in India operates in a joint venture (JV) with Mukesh Ambani´s Reliance Retail, a subsidiary of Reliance Industries Limited (RIL), India´s largest private enterprise. This association has for long been fruitful to both parties and as a result, expansion is on the way. M&S announced that it would open 100 stores in India by 2016 instead of 86 as planned last year. Britain´s largest clothing retailer has opened 40 stores in India.