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Spencer’s Retail On Expansion Spree; Plans To Launch Exclusive Electronic Outlet Chain
Posted by Pradeep Sadanapalli | November 4, 2007 | 1,325 views
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Loading ...Spencer’s Retail, owned by the RPG group, plans to aggressively grow its food and grocery supermarket chain, Spencer’s Daily even as it is launching a range of new formats for selling consumer electronics, cellular phones and books, music and stationery items.
Like Tatas (Croma), Ambanis (Reliance ‘Digital’), Biyanis (e-Zones), and Dhoots (Next), it is going ahead with the rollout of an independent multi-brand chain for electronic products.
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.
Spencer’s Retail plans to expand it’s retail telecom business, “RPG Cellucom”. RPG Group will invest Rs 1,000 crore in the next one year to expand its mobile and laptop retail chain, “RPG Cellucom” - a master-franchisee of Dubai-based Cellucom.
RPG Cellucom India, which currently runs over 100 stores across the country showcasing a variety of products including phones, notebooks and other accessories, will open 400 new stores by December next year targeting Rs 2,500 crore turnover by March 2009.
Of the new stores, “150 will come up by this year end”, RPG Cellucom Chief Executive Sunil Bhagat said at the launch of the 101st store here. He said the company will have over 50 stores in the National Capital Region by March 2008.
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 intends to enlarge plans for its food and grocery supermarket chain, “Spencer’s Daily” network at 50 to 55 stores a month. “We have already tied up for real estate for the next 10 months,” he said.
Chennai-based Sri Krishna Sweets, which has a chain of 53 outlets across the country, Dubai and the US, is joining hands with Spencer’s Retail to have a separate counter at Spencer’s Daily outlets in Chennai. It will soon expand to Bangalore, Coimbatore and Hyderabad stores as well.
In the coming three months, all Spencer’s Daily stores will sport a new look following the push given to their renovation and modernisation.
SOURCES:
Business Line
Indiaretailing.com
Economic Times
Topics: Consumer Market, Business News |
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