Spinach, the food and grocery retail chain, which launched its first retail outlet in Bandra Kurla Complex of Mumbai in March, 2006 and which presently operates 10 retail stores, is expected to roll out 60 stores by this year end. These stores will be located in the Mumbai-Pune region. By the year end, Spinach would have shopping space in excess of 1.5 lakh sq ft. Overall, Spinach will have around 60 stores in Mumbai and 10 to 12 stores in Pune. Spinach stores will be located within one km distance of each other.
Spinach plans to move to the eastern region of India in the next financial year. It hopes to open as many as 10 stores in Kolkata.
Spinach is the retail brand of Wadhawan Food Retail Pvt Ltd (WFRPL), which is owned by Delhi based Dewan Housing Finance Corporation, having interests in real estate and housing finance..
As reported earlier, Spinach is working towards opening 1,500 retail outlets, throgh organic and inorganic routes, within the next three to five years.
Depending on the size and location, each Spinach outlet costs between Rs 75 lakh and Rs 1.50 crore.
Besides stocking a variety of FMCG products, fruit and vegetables, stationery, OTC medicines, etc, each of the Spinach store, modelled after the best international neighbourhood stores will have a separate refrigerated space for meat and fish products. Spinach also has a centralised bakery to supply bakery products to the stores. Plans also envisage adding prescription medicines and alcoholic beverages over a period of time. The company plans to have its own private labels as well as well-known brands.
“The motive behind Spinach store is to provide fresh and quality products at the right price, in the neighbourhood, in an environment that’s international and which will eventually become meeting ground for the community of that particular locality,” said an Spinach official.
Depending on the size, Spinach stores are divided in three categories, namely,Spinach Express (less than 2,500 sq.ft.), Spinach Local (2,500 to 5,000 sq. ft.) and Spinach Super (5,000 to 7,000 sq. ft.).