What are the retail expansion plans of Marks & Spencer Reliance India?
This financial year, we are setting up Marks & Spencer stores in Delhi, Bangalore, Hyderabad, Chennai. Next financial year, we will come up with one more store in Mumbai after the recently-launched Marks & Spencer store in Ghatkopar in Central Mumbai. In the next three to five years, we hope to touch a total number of 50 Marks & Spencer stores with 1 mn sq ft of retail space. But this will also depend upon how soon mall developers are able to complete constructing their malls. In order to meet the supply chain management requirements of the expanded Marks & Spencer stores, we are also planning to set up new warehouses, one each at Mumbai, Bangalore and Chennai apart from the one existing in Delhi. After working with Reliance to agree the structure of join venture partnership in April 2008, the last year has been spent recruiting the team and establishing business, including the structuring of a management agreement to ensure the continued operation of stores. What revenues do you expec
