As part of its new branding strategy, RPG Group-owned Spencer’s is working on trimming down the number of its current retail formats, while focusing on retailing food items.
Spencer’s currently has 290 stores covering four retail formats, Hyper, Super, Daily and Express spread across six lakh square feet of area, which will get reduced to three formats eventually.
“We are merging two formats which are similar, to reduce the number to only three formats with one big box, small box and a range of stores in the middle range,” Spencer’s Retail Limited Vice-President (North) Satyaki Ghosh told media.
The company would invest up to Rs 2,500 crore on its retail expansion till March 2009 to cover an area of around 20-25 lakh square feet by September 2008. The total area across the formats will be close to 17 lakh by this year end. “We are already present in 32 cities across India and as expansion continues, we are aiming top 119 cities of the country,” Ghosh said.
Spencer’s Retail is one of India’s fastest growing retail stores with multiple formats, retailing food, apparel, fashion, electronics, lifestyle products and books.
