Financial Daily from THE HINDU group of publications
Friday, Jan 13, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 13, 2006 |
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Marketing
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Retailing RPG Retail to expand Our Bureau
Chennai , Jan. 12 RPG Retail has revived the Spencer's brand name for its retail formats. The renaming has started with the former FoodWorld outlets being called Spencer's Daily. The company has retained 49 of the 93 Foodworld outlets and plans to have four retail formats called Spencer's Hyper, Spencer's Super, Spencer's Daily and Spencer's Fresh, which will cater to different customers. RPG Retail, which also has MusicWorld in its fold, will double its retail space from 3.5 lakh sq ft in a year's time, according to Mr J.H. Mehta, President, Spencer's Retail (a part of RPG Retail). The number of Hypers and Supers are likely to go up to 19 in the next six months. The cost of setting up a hypermarket would be around Rs 7 crore, he said. He, however, declined to divulge the investment that the company would be making to roll out all the new stores.
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