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Fifth outlet: Cricketer V.V.S. Laxman at the Books & Beyond store which he inaugurated in Hyderabad on Friday.

Our Bureau

Hyderabad, July 11 Spencer’s Retail, part of the RPG Group, has plans to expand its retail store format named Books & Beyond.

By end of fiscal 2008-09, it will have 15 stores across the country.

Positioned as a ‘community engaging store’, which offers books, toys, art, stationery and music, the stores would be located in metros and big cities, where the potential for it exists, said Mr K. Dasaratharaman, President, Speciality Retail Business of RPG.

The company opened the fifth outlet of Books & Beyond here along with Music World, a well known store in the upmarket Banjara Hills area.

Cricket star V.V.S. Laxman formally opened it today.

“This format is our route to get into the leisure and entertainment sector. Our target is to reach at least 15 stores (average size of 6,000-7,000 sq. ft) this fiscal,” Mr Dasaratharaman told Business Line.

However, the growth would depend on the real estate availability and location.

The company is talking to real estate developers in different cities to get space that meets the demands for such a store, he added.

With a minimum of Rs 1 crore being the investment required in each store, Spencers Retail wants to build the chain as a ‘one-stop leisure, entertainment’ option for the family.

The company launched the format in April 2007 in Gurgaon, he said.

The Books & Beyond store would stock upwards of 35,000 books and magazines. It will also provide interactions with authors, book releases and so on.

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