Dubai-based Landmark Group promoted food retailer Spar and RPG Group’s retail arm Spencer’s Retail will continue to expand in large format stores in the next two years, reports Business Line.
“ The format has given us higher turnovers and the entire range and assortment of products across all categories of food, fashion, home and entertainment finds space only in a large store which is typically more than 25,000 square feet,” said Samar Singh Sheikhawat, vice-president-marketing, Spencer’s Retail Ltd in the report.
Spar, which currently has three hypermarkets, two in Bangalore and one in Hyderabad is planning to expand only through this format. Viney Singh, managing director, Max Hypermarket India, which owns the Spar brand said, “Spar can alone offer customer-centric experience. Even our supermarkets in other parts of the globe are around 30,000 square feet and any space less than this cannot deliver service and range, which we promise along with value and freshness.”
Spencer’s Retail has scaled down its store growth plans from an intended 2,000-3,000 across all formats by 2011 to 750 stores in two years with an investment of about Rs 20 billion. The group currently has 32 large format stores and is working on growing this number to 45 by March.
— IndiaRetailing Bureau
