The Rs 9,500-crore RPG Group owned retail chain Spencer’s is back in action. Spencer’s, a pioneer in organised retail, runs a chain of stores in four formats ranging from hypermarkets to Supermarkets to Daily and Fresh Stores, which offer a complete gamut of products & durables ranging from bread to bed covers; from toothpaste to television.
Spencer’s is operating 80 stores across 20 cities in the country with a retail trading area of more than half a million square feet and is targetting a retailing space of 1.2 million sq. feet by 2008. Spencer’s caters to the needs of more than 2.6 million people who walk in every month into its stores.
Spencer’s will add 15 more new neighbouhood retail stores, this month, thereby taking its tally of Spencer’s stores close to 100. The new stores, will be spread across 10 cities including Madurai, Kochi, Coimbatore, Tirupur and Bangalore in the south and Gurgaon and Delhi in the north. The central theme of Spencer’s stores will be to, “get all your needs from your new neighbour”.
“We have a very ambitious and speedy growth plan for 2007. Spencer’s Retail has introduced new shopping format located at an arm’s length, in order to provide solutions for the daily top-up needs of our consumers. In the current span, each week we are opening at least two to three new Spencer’s stores. Keeping the retail industry in mind, Spencer’s is planning to double its sales revenues every year,” says a company press release.
Spencer’s also manages a retail chain of 121 Music World stores as well as it offers travel solutions under the banner of Spencer’s Travel. To meet the growing requirement of trained professionals in the retail industry, RPG Enterprises has also set up a training institute for Front Line Staff and Store Managers called the RPG Institute of Retail Management (RIRM).