Spencer’s retail, a subsidiary of RPG Group, has announced to open 70 Beverly Hills brand stores by March 2011 in India. “At present, we are operating only four company owned stores in Delhi and we are planning to have our presence in 30-40 cities by 2011, through both franchisee and company owned stores,” says Anurag Rajpal, vice president, apparel, Spencer’s Retail Limited.
The size of the stores is to vary between 1200 to 1500 square feet. He further says, “We have earmarked Rs 20 crores for the expansion.” On being asked about the rent model of the store he comments, “We are negotiating with various mall developers and deliberating over various models like revenue sharing or minimum guarantee of the stores.”
— Diwakar Kumar