MARKS & SPENCER STRIKES INDIA JOINT VENTURE DEAL
May 1st, 2008
BY RAGHAVENDRA VERMA, in New Delhi
BRITISH clothing retailer Marks & Spencer has entered into a joint venture agreement as a majority partner with India's largest retail chain - Reliance. With a total investment of US$57 million, the new joint venture company hopes to open 50 stores in next five years, and would source many products from local suppliers. M&S chief executive Stuart Rose said: "India is a very exciting opportunity... there is the potential for M&S to become a major retail brand." Since 2001 M&S products have been sold in ...
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