Spencer’s Retail Limited, a multi-brand and multi-format retailer has launched its first hypermarket in Greater Noida. Located at the basement level of Ansal Plaza, the store offers its customers the widest range of over 15,000 quality products at affordable prices. Spread over 31,700 sq. ft, the store offers a wide range and assortment for food, home and electronic products that have been put together keeping in mind the requirement of the shoppers in the locality.
Images Business of Fashion asks Shashwat Goenka, Sector Head, Spencer’s Retail Limited about fashion and lifestyle in the store.
Why people would come to buy fashion from you. What new are you offering in fashion through this store?
For us fashion is new but we have kept the price points very competitive. We focus on apparel business as we know that it is going to grow manifold. Our collection moves around in the sphere of casual and everyday wear and not for formal or evening parties. In fashion vertical we are likely to see results in a couple of months and we would also see a sea change in terms of offerings by autumn winter.
The company’s punchline has been changing since its inception. Now that you have kept it “Makes fine living affordable,” what do you think is affordable the right word to identify your brand with?
It was couple of years that we wanted to give our brand the punchline like an existing one. We try to plan our offerings affordable and within the reach of all strata of people. Our earlier punchline was ‘Taste the world’ which was very curious Eastern way of knowing the Western world. We developed this punchline to creating a perception of good choices for the customers.
What is the price range of fashion items?
Rs 45 – Rs 1700 ( Apparel only – not including accessories)
Why have you chosen to open your large format store in Greater Noida and not in Noida?
We want to focus on large format stores across the country. We opened 10 hypermarkets last year and will continue to aggressively expand our presence across geographies, with a target to reach 100 hypermarkets by 2017. One of the reasons to choose Greater Noida over Noida was that we have found a good property ready in Greater Noida. Also this place is catching up the pace with other metropolitan cities in terms of infrastructure and urbane population. Greater Noida has emerged as an attractive market.
Was this your first store to offer fashion products?
No. most of our hypermarkets have a section offering fashion for men, women and kids.
Name the fashion brands in your store?
Our private label includes Mark Nicolas, Scorez, Island Monks and Asankhya, and other fashion brands are Moksh, Ablaze, Jockey, VIP, Aurelia, Gini & Jony, Fitz, Dupatta World etc.