The Hindu Business Line : Spencer’s focus on large formats

Large format stores will drive the growth of Spencer’s Retail during this financial year. Spencer’s Retail, the Rs 800-crore retail arm of RPG Enterprises, with a retail footprint of 400 stores in the country (27 of which are hypermarkets), plans to set up 60 hypermarkets by March 2009, Mr Atanu Batabyal, Vice-President, Southern Operations, Spencer’s Retail Ltd, said. The retail chain is targeting a turnover of Rs 2,000 crore for the period. Mr Batabyal said that the company plans to invest around Rs 2,500 crore in the next few years for its retail expansion. The company currently has three formats: dailies (3,000 sq ft), supermarkets (10,000 sq ft) and hypermarkets (15,000 sq ft). “We’ll be looking at stores larger than 20,000 sq ft in the future,” he said. Spencer’s Retail has a strong focus on food and groceries including FMCG processed foods, fresh vegetables and specialty foods. The hypermarket, the first in Bangalore, is spread over 15,000 sq ft and almost 40 per cent of the 9,000 SKUs in the hypermarket belong to the foods category. Home meal replacements and food courts would form part of the retail experience for the customers, Mr Batabyal said.

More Stories on : Retailing | Karnataka

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bangalore jeweller to launch Tolkowsky diamond range

Tata Sky restores ESPN’s channels to basic package

Opinions sought on FDI in retail

Sony ties up 7 sponsors for 10 ka dum

Spencer’s focus on large formats

Rosebys to offer premium home linen solutions

FMCG cos plan to increase prices

Titan new watch for women