Spencer’s Retail, part of the RPG group, intends to enlarge plans for 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.
“ This year we will be launching five exclusive Spencer’s electronics outlets in the south, except Chennai. The first one will be opened in Hyderabad. Later, the format will be rolled out nationally,” its vice president operations, Ramesh Menon told a leading daily.
He said the company has also entered the retail telecom business by launching mobile phone outlets (RPG Cellucom) in the north. The number of outlets will be doubled to 200 before March-end.
Spencer’s Retail whose new format Book and Beyond opened its first outlet near the capital offering books, music and stationery items plans to expand this format.
“We are aggressively expanding food and grocery business. We are quickly ramping up operations by opening 40 to 50 Spencer’s Daily outlets every month. So far, we have touched 320 outlets. Before March-end, it will touch 600 across the country. The expansion will involve an investment of Rs 500 crore,” Menon said.
Spencer’s Daily has grown rapidly in the last two years considering that it had 55 stores in September 2005 after RPG parted ways with Dairy Farm international, Hong Kong, in retail business.
In the south, Spencer’s Daily has 100 outlets and there are plans to open more stores in Kerela. Otherwise, the expansion will be mainly in the north. Today, Spencer’s has a presence in almost all states except Bihar and Orissa.
Though Spencer’s was considered a well-known southern brand, Spencer’s Daily has emerged a market leader in the north with outlets in Ludhiana, Punjab, UP, Rajasthan and Haryana.
As part of the ramp-up plan, Spencer’s Daily will add four hyper market stores to the existing 14 stores. They will come up in two weeks in Kolkatta (two stores), Vijayawada and Calicut. One store in Kolkatta will be the largest one located over 65,000 sq feet.
In the coming three months, all Spencer’s Daily stores will sport a new look following the push given to their renovation and modernisation.
