Home Retail Spencers to form two international JVs

    Spencers to form two international JVs

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    Spencer’s Retail Ltd will announce two joint ventures with international fashion brands over the next two months. Earlier this week, the retailer announced a tie-up with US bakery cafe chain, .

    Spencer's to launch apparel section next week
    The retailer opened six stores in the October-December quarter and planned to open one before end of this current fiscal

    Announcing this, , vice president, marketing , said: “The joint ventures, one to be announced in August and the next in September, will help expand Spencer’s higher-margin non-food offerings in hypermarkets and will augment our fashion business model.”

    However, Sheikhawat did not reveal the names of the proposed partners saying, “One is from the UK and one from the US.”

    Speaking about their business, Sheikhawat said, “Food gets in the traffic, it gets the topline, the revenues, it doesn’t get the bottomline. Fashion and home get you the bottomline so you need to sell a whole lot of food but you also need to sell a whole lot of fashion and home.”