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, Au Bon Pain.
Announcing this, Samar Sheikhawat, vice president, marketing Spencer’s Retail, 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.”