Marks & Spencer’s Indian joint venture has announced plans to more than double its retail presence in the key emerging market.

The high street icon currently operates 17 stores in conjunction with Indian owned Reliance Retail. It plans to increase that number to more than 50 over the next three years.

“Our plan with the joint venture is to open larger stores between 15,000 sq ft and 35,000 sq ft,” said the joint venture’s marketing chief, Nandini Sethuraman. “By 2014, our aim is to have 50 stores. It all depends on momentum and right location.”

M&S made its Indian debut in 2001 and launched its venture with Reliance in 2008. The UK retailer holds a majority 51% stake, with Reliance controlling the remaining 49%.

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M&S in India talks (20 November 2007)

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