The UK-based retail chain Marks & Spencer is launching its food and kidswear categories in India.
“The retail chain is introducing its food and kidswear categories in India, beginning with the first one at our 20,000 square feet flagship store in a mall in Gurgaon in the National Capital Region,” a company official stated.
According to the official, in the food segment, a major growth driver across its outlets globally, the chain will offer a range of biscuits, confectionaries, groceries and savouries.
The official said, “Keeping in mind the Indian taste and international standards at the same time, Marks & Spencer seeks to compete with the Indian retail chains.”
For the kidswear segment, “while the prices will be higher than the local brands, we believe we are offering value to our consumers,” said the official. Price will range between Rs 395 and Rs 3,000.
Both the new segments will be a part of the overall store formats, and will not have standalone stores.
“The chain as a whole believes in the large-format stores and both these segments would be a part of the Marks & Spencer outlets,” the official clarified.
Marks & Spencer, whose master franchise in India is the Planet Retail group, currently has 12 outlets in India and plans to open another 10 within the next five years. The company saw an increase of 5.4 per cent in its revenues for the second quarter of 2007-08 globally.
