Spencer’s is hopeful to post a turnover of Rs.1,150 crore in FY 2010-11, up from Rs.920 crore in FY 2009-10.
The retailer will also be adding five lakh sq.ft of trading area to the existing one million over the next one year. Spencer’s will focus on large format stores predominantly in tier-II and III cities. Fifteen large format stores are planned for this fiscal with an investment of Rs.100 crore.
Vineet Kapila, president, Spencer’s Retail, says, “Our private label is doing really good and is contributing 15 per cent of the total revenue. Regarding shelf space, private label products are kept in the same bay/shelf as the manufactured brands in similar category. We are generating 50 per cent same-store growth, month-on-month on our liquor-based products.”
Spencer’s is planning to expand its retail presence predominantly in West Bengal, Tamil Nadu, Andhra Pradesh, Karnataka, Kerala, Maharashtra, Gujarat and NCR. Most of the stores would be in malls.
Spencer’s Retail is one of India’s largest multi-format retailers. Spencer’s focuses on verticals like fresh fruit and vegetables, food and grocery, personal care, garments and fashion accessories, home and office essentials, electrical and electronics.
— Shubhra Saini