Companies

Marks & Spencer posts 36% sales growth in India

Our Bureau Mumbai | Updated on July 09, 2014

Marks & Spencer has reported 36 per cent sales growth in the domestic market, driven by the strong performance across its womenswear, menswear, lingerie, kidswear and beauty departments, with highlights in its linen and beachwear categories.

Venu Nair, Managing Director of Marks & Spencer Reliance India, said: “We continued to see a good performance with strong double-digit growth from our stores in India during the first quarter of the year. ”

Local sourcing

Through its sourcing operation in India and South Asia, M&S sources a high percentage of its products from local suppliers in India.

Local sourcing enables Marks & Spencer to offer more colours and styles in India, whilst ensuring its pricing remains competitive.

During the quarter, M&S’ linen sales was up 31 per cent. Beachwear also performed well in India during the quarter, with overall sales increasing by 37 per cent. Swimsuit sales was up 22 per cent, whilst cover-ups were the fastest growing part of the range with 90 per cent increase in sales over last year.

L ingerie and beauty store

In May, M&S had opened its first standalone lingerie and beauty store at Infinity II shopping mall in Mumbai to capitalise on the growth opportunities in the lingerie and beauty segment in the Indian market. During the quarter, M&S saw its lingerie and beauty sales increase by 33 per cent and 38 per cent, respectively.

Shapewear now accounts for 9 per cent of M&S’s total lingerie sales in the Indian market..

Published on July 09, 2014

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