Spencer's to double retail area by 2007

New Delhi, Oct 1: Spencer's, the retail brand of Rs 9,500 crore RPG Group will set up nine more super markets in the next six months besides doubling its total contracted retail area by 2007 from the present one million square feet.

The number of Spencer's Hyper/Super markets will thus go up from 10 in August 2006 to 19.

The group which has launched six Spencer's Dailies in Pune, Hyderabad, Trichy and Bangalore this week, plans to add one new store across the country every two days throughout the month of October.

''We have a very ambitious and speedy growth plan for 2006-07.

Keeping the retail industry in mind, Spencer's is planning to double its sales revenues every year,'' Spencer's Retail President J H Mehta said.

Spencer's Hyper are retail markets with an area of over 25,000 square feet, while Super markets range between 8,000 to 15,000 square feet.

The Dailies are neighberhood stores for groceries, fresh food, chilled and frozen products set up at an area of 4,000 to 7,000 square feet.

UNI