Home Retail Marks & Spencer India Records 36.2% Rise in Sales in Q1

    Marks & Spencer India Records 36.2% Rise in Sales in Q1


    British retailer Marks & Spencer (M&S) has reported 36.2 percent increase in sales in India in the first quarter of this fiscal on the back of strong performance across its linen, beachwear, lingerie and beauty segments, mentions PTI.

    “We continued to see a good performance with strong double digit growth from our stores in India during the first quarter of the year,” said Venu Nair, Managing Director, Marks & Spencer Reliance India.

    During the first quarter ended June, 2014, M&S’ lingerie and beauty sales increased by 33 percent and 38 percent, respectively compared with the sales in the previous year, the company said.

    In May, M&S opened its first standalone lingerie and beauty store in Mumbai.

    “The move (to open standalone store) capitalises on the growth opportunities in the lingerie and beauty in the Indian market,” company added.

    During the quarter, M&S’ linen sales went up by 31 percent compared with last year while beachwear sales and swimsuit sales went up by 37 percent and 22 percent, respectively as against last year.

    In India, the company operates its stores in a joint venture partnership with Reliance Retail.

    M&S today reported 2.3 percent increase in group sales and 4.7 percent increase in international sales in the first quarter.