Marks & Spencer could be moving into the world of e-commerce in India very soon. The British department store group is said to be in the last stages of signing an agreement with India’s biggest fashion e-tailer Myntra.com to sell its wares online.
The move comes at a time when the majority of web stores in the country are said to be establishing and expanding their fashion portfolios in order attract more global labels as well as private brands. The agreement with Myntra.com would make India the second territory where the British department store group sells its products via a third-party platform, after M&S partnership with Tmall.com in China.
M&S is said to have had discussions with various e-commerce sites including Jabong, Snapdeal and Amazon. In the past, the group’s CEO outlines plans to turn India into one of the department store groups largest markets outside the UK. At the moment, M&S owns and operates 47 M&S branded outlets throughout the country and aims to more than double the amount of stores over the next two years.
A company spokesperson declined to comment on the deal.