Retail in Asia

In Markets

M&S eyes up India a second time

Marks and Spencer (M&S) could scarcely have given a clearer signal of the exalted place India has in the British retailer’s plans.

Just one week after announcing on 1 February that he would step down as its CEO, Sir Stuart Rose flew to Mumbai for a meeting with the Chairman of the Indian conglomerate Reliance Industries, Mukesh Ambani, India’s richest man and an M&S partner.

"Mark Bolland, our new CEO, is very keen to grow the overseas market, and India is just top of the list," said Sir Stuart, who remains the Chairman of M&S, during the visit. "In fact, I have been discussing with Mr Ambani about the need to get aggressive and both of us are looking to have several more stores."