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Marks and Spencer opens second sourcing office

Having formed a 51:49 joint-venture with Reliance Retail, UK based Marks and Spencer has set up a second sourcing office in Bangalore, to particularly cater to the Indian market.

Further, it also plans to source up to 70 percent of its apparel from India and reduce the percentage of imports, as imported apparel draws duties of up to 38%. 

Thus, it is planning to reduce the prices of its garments and make itself a mid market brand like it is in the UK markets.

Marks and Spencer has plans of adding 50 new large format stores in the range of 15,000 to 20,000 square feet, in the next five years. It will be adding new categories such as children’s clothing and furnishings too.

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Posted by Naresh Koshti on 19 August, 2008 12:43:20 PM IST #


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