Marks & Spencer plans to go up to 100 stores in India.

UK fashion retailer Marks & Spencer (M&S) has seen 13 per cent growth in India sales compared to a year ago and plans to go up to 100 outlets in two years, against the backdrop of an overall decline in consumer spending.

Globally, annual profit fell for a third year due to a drop in clothes’ sales.

The chain has 40 stores in India. Of 55 stores it opened globally last year, 10 were in India. M&S operates in a joint venture with Reliance Retail.

M&S entered some Tier-II locations last year, such as Kochi, Kanpur and Surat. It recently launched a dedicated store on lingerie and beauty products in Mumbai and is expected to roll out 20 outlets in that category by 2016.

BS