Marks & Spencer Reliance India, the Indian arm of UK-based fashion and food retailer Marks & Spencer, is expecting nearly one-third of its business to come from digital channel even as it continues to expand its footprint across the country by setting up stores in Tier I and Tier II towns. Digital currently accounts for around one-fourth of its total sales.
According to Ritesh Mishra, Managing Director, Marks & Spencer Reliance India, the company would focus on “turbo charging” the growth rates by focusing on four essential pillars including store expansion, building up digital footprint and overall product portfolio and localizing products to suit the taste of Indian customers.
Turbo charge
“We have six business units including men’s wear, women’s wear, kids, lingerie, beauty and home and there is a huge scope of growth in each of these categories. We are looking to turbo charge the growth rates. We plan to open one store each month and also ramp up our digital presence,” Mishra told newspersons at a press conference here on Wednesday.
The company currently has 95 outlets across 35 cities and all of these are company owned and company operated. Its products are available on Amazon, Myntra and other market places apart from its own website.
Strengthening portfolio
Talking about expanding product range, Mishra said there is a huge scope of growth in its existing product lines and it would look to strengthen that. Lingerie, winter wear, women’s and men’s work wear would be some of the key areas of focus.
It is also exploring the possibility of launching furniture and lightings under its home segment moving forward.
“There is opportunity and potential in furniture segment but right now, we are working on strengthening our existing product portfolio in home segment which includes kitchen, bathroom, bedding and home accessories. We may look at furniture and lighting moving forward,” he said.