PARIS, April 1 (Reuters) - Britain's Marks & Spencer plans to grow its international profits by 40 percent over thenext three years by expanding its number of overseas stores bymore than a half.
The 130-year-old firm, Britain's biggest clothing retailerwhich is struggling in its home market, told a media andinvestor seminar in Paris it would increase its franchiseoperations abroad and grow its successful food business.
In total it plans to open 250 new international stores toadd to its existing 450 outlets, with a focus on its prioritymarkets of India, China, Russia, the Middle East and WesternEurope. It plans to have 100 stores in India by 2016.
In Western Europe it will expand its food business with 20new stores in Paris in the next three years, making the Frenchcapital its largest food market outside of Britain. It will alsoseek to expand its lingerie and beauty offering in the MiddleEast and India.
The international expansion forms part of Chief ExecutiveMarc Bolland's three-year, 2.3 billion pounds ($3.8billion)turnaround plan to transform M&S into an international,"multi-channel" retailer, connecting with customers throughstores, the Internet and mobile devices.
Bolland is under pressure in M&S's key home market whichprovides about 90 percent of its revenue.($1 = 0.5998 British Pounds) (Reporting by James Davey; editing by Kate Holton)