RP-Sanjiv Goenka group’s retail arm Spencer’s that has closed several of its small format stores already will now focus on its hyper market business with plans to open 10-15 Spencer’s over the next few years. Speaking on the sidelines of launch of mobile shopping app.
Spencer’s Retail Head Shashwat Goenka said that the company will open nine Spencer’s Hyper this year the against 11 stores in FY14. With an investment of Rs 3-5 crore per store Spencer’s is expected to invest anywhere between Rs 40-60 crore a year in adding new stores. Spencer’s Retail currently operates 126 stores including 33 hypers in 40 cities of the country employing over 4,500 professionals.