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Spencer’s Retail, an RP-Sanjiv Goenka Group company, is on a fast growth track. The Kolkata-based retailer is targeting ₹5,000-crore turnover in another four years and is also looking at a break-even for its hypermarket format in the next quarter (April-June).
Spencer’s CEO Mohit Kampani said that the company is now focusing on compact (29,000 sq ft) hypermarkets.
It is planning to scale up its store count by adding about 80-100 outlets in the next four years at an investment of ₹4-5 crore on each outlet. The company also plans to come out with branded and co-branded products in the food and beverage segment.
At present, the company has 132 stores, including 26 hyper stores, 14 super markets and 92 daily (convenient) stores, mostly in the North, East and South. Kampani said that the company is not very keen on opening stores in the West.
“We will open nine hypermarkets this year and 15 next year and have internally set a target of ₹1,000-crore revenue on an annualised basis,” Kampani added.
Spencer’s Retail, which hired consulting firm BCG last year, is looking at building more robust processes and adding capabilities such as analytics, space management, design, IT and new systems to become more competitive, Kampani added.
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