Marks & Spencer is
close to signing a deal with Indian etailer Myntra.com, which would see the
British retailer selling online in the country for the first time.
The deal with India’s largest ecommerce
platform would be just the second market where M&S sells through a third
party website. It started selling on China’s Tmall in December 2012.
The two companies have reportedly
finalised the terms of the partnership and the final agreement is expected to
be signed soon.
An M&S spokeswoman said: “Whilst we
always look at new opportunities, we would never comment on rumour or
speculation on our future business plans.”
M&S is believed to have had talks
with various e-commerce companies in India including Myntra, Jabong, Snapdeal
and Amazon.
Speaking about its partnership with
Tmall M&S said teaming up with the platform enabled it to benefit from its
“scale, infrastructure and local insight” as well as extending its brand reach
and better understanding how the local customer shops online in a “complex
market.”
The retailer currently operates in 54
retail territories across the globe.
M&S operates in India with franchise partner Reliance
Industries. The company runs 46 M&S shops and plans to double the number in
the next two years.
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