Marks & Spencer Reliance India, a 51:49 JV between Marks & Spencer (M&S) and Reliance Retail is planning to launch 50 stores in the next five years in India. The company is likely to invest £ 29 million (approx Rs 210.80 crore) for its proposed expansion.
The company is planning to add one floor to its existing franchise store at Phoenix Mills in Mumbai and at South City Mall in Kolkata. These franchise stores have an area of around 4,000 to 5,000 sq ft. The proposed M&S stores are expected to be spread over 15,000-20,000 sq. ft.
Source : ProjectsToday
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