Mumbai, July 17 (UNI) Spencer's Retail Limited has planned to set up 2,500 stores across the country with a big investment of around Rs 3,000 crore in the next three years.
Spencer's Retail Limited Vice President (marketing) Mr Samar Sekhawat told UNI on the sidelines of a new product launch here today that the Company had 400 stores including 27 large format stores across 65 cities in the India, focusing on cereals and pulses fruits and vegetables, electronics, home essentials, music, books, mobility solutions toys and others.
Spencers is one of the earliest entrant into the retail space and literally introduced the Indian consumer to the concept or organized retailing. In face, the first ever hyper store in India was launched by Spencers at Hyderabad in the year 2000. In the last financial year, Spencers increased the stores from 150 to 400 with a target of the expanding 600 more this year.
Spencers is on a high growth path with target for Rs 1,800 crore by the end of the current financial year. The Company would open more 100 stores in Maharashtra with an investment of Rs 50 crore by the end of this year.
UNI AR ZA SKB1841