Spencer’s on expansion spree, opens 9 stores in 90 days
By Retail4Growth Team | November 23, 2018
The store count of the multi-format retail chain now reaches 146 across 37 cities
Spencer’s Retail, the multi-format retailer from RP-Sanjiv Goenka Group is on an expansion spree. It is presently focussing to expand the store count in existing clusters in East, South and North of India. As part of this, Spencer’s opened one store in every 10 days and thereby by adding 9 new stores in 90 days. With this expansion, the store count of Spencer’s now reaches 146 across 37 cities.
The retail chain is also set to explore new territories and in this phase launched stores in new geographies as well. These include areas like Rajarhat in Kolkata, Maheshtala (South 24 Parganas), City Mall (Gomti Nagar) in Lucknow, Raheja Mall (Sector 47) in Gurugram, Sector 48 in Noida, Madeenaguda in Hyderabad, and Aurobindo Mall at Howrah.
The size of these stores varies between 2,000 sq. ft. to 15,000 sq. ft and the stores offer a wide range of assortment from across categories. Says the Spencer’s spokesperson, “To consolidate the business, Spencer’s is dedicatedly selecting 360 degree catchments where the customers are looking for aspirational products in an affordable range. The expansion of Spencer’s currently is focussed at metros as well as in Tier I and II cities. In this FY we are further concentrating at spreading our network in the profitable zones like West Bengal, Delhi NCR, East UP and down south in Hyderabad and Chennai.”