Spencer’s Retail, the arm of RPG Group that is involved in the business of retail in multiple product categories, has announced its plan to add private labels and overseas brands in the kidswear category as part of the company’s attempt to double its revenue in this segment.
Samar Shekhawat, vice-president – marketing, Spencer’s Retail, said, “There is a good demand for international brands in kidswear segment due to the emergence of the child as an independent buyer.”
“The kidswear market has seen a significant increase in the recent years and is witnessing over 25 per cent year-on-year growth. Our plan is to tap this segment bringing in innovations through visual merchandising and opening small format stores,” added Sheikhawat.
At present, Spencer’s large format stores span between 25,000 and 70,000 square feet. It has planned to allocate around 20 per cent of its total space to kids’ merchandise, up from its current 15 percent allocation and targets revenues of up to Rs 1,000 per square feet in a year from this segment, which is currently around Rs 700 per square feet.