Mothercare to open 70 stores in India by March 2011

Britain's leading mother and baby care retailer, Mothercare, said it will open 70 stores in India by March 2011 as part of its overseas expansion plans.

In a regulatory filing to the London Stock Exchange, the company said, "70 stores to be opened in India by March 2011, growing to at least 200 by March 2015."

However, the company did not disclose if the new stores would operate on stand alone or shop-in-shop basis. At present, the company has nearly 17 stores across up market cities in India.

Mothercare, which is hosting an investor and analyst event in India, said it expected the total overseas network sales of the company to double to around 1 billion pound by 2014.

The company plans to increase its overall retail space by 15-20 per cent by adding as much as 175 new overseas stores in 2010-11.

Mothercare also plans to add 150 new overseas stores per annum from 2011-12, the company said, adding that the international profit margin on network sales was targeted to increase by 20-30 basis points per annum.

The Mothercare group comprises, principally, of two iconic retail brands - Mothercare and Early Learning Centre.

The group's brands operate through three distinct channels; UK stores, direct sales, and international sales under which the group franchises (or participants in joint venture) operations delivering the Mothercare and Early Learning Centre brand retail operations in overseas markets.