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R. Ravikumar

Chennai, Oct. 31 RPG group company Spencer’s Retail Ltd is planning a separate chain of large format stores for consumer electronics. To be christened Spencer’s Electronics, the first outlet of the proposed chain will be opened in Hyderabad in the first week of November, “may be on November 5”. “To start with, we are planning to open five stores in the South after which we will decide on our national roll-out,” said Mr Ramesh Menon, Senior Vice-President (Operations), Spencer’s Retail Ltd.

The stores will have a minimum floor space of 4,000 sq.ft. and will stock consumer electronics goods from various brands. It is also planning to take its books and stationery store —Books and Beyond — to other geographies in the country. It currently has one outlet in Delhi. The store sells, apart from books, stationeries, music and movie CDs, cassettes and DVDs. Besides, Spencer’s Retail plans to “at least double” its RPG Cellucom outlets by the end of this fiscal, said Mr Dasaratha Raman, President, RPG Cellucom. It recently opened two outlets in Chennai, including which there are 100 outlets across the country. RPG Cellucom is a venture in tie-up with Dubai-based mobility enabler Cellucom. Earmarking an investment of over Rs 500 crore, it is also planning to close the current financial year with 600 Spencer’s Daily stores. Currently, it has 320 outlets, out of which 14 are hyper markets. It will roll out 280 stores in the next few months, including four hyper markets — one each in Vijayawada, Kozhikode and two in Kolkata. “One of the stores in Kolkata will be 65,000 sq.ft. store, which will be our largest,” said Mr Menon.

According to him, the company plans to grow its ‘Daily’ network at 50 to 55 stores a month. “We have already tied up for real estate for the next 10 months,” he said.

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