Home / Knowledge / News / Apparel/Garments / Spencer's aims big expansion, eyes hyper-local startups
Spencer's aims big expansion, eyes hyper-local startups
18
Aug '15
Courtesy: Spencer
Courtesy: Spencer's
Retail major Spencer's plans to add about 2.75 lakh square feet of trading area and take their number of hypermarkets to 132 this financial year from the current 120 in 35 cities across India, according to media reports.

As part of the expansion plan, Spencer's opened two hypermarkets, spread over 60,000 square feet in Hyderabad recently. Hyderabad now has five Spencer's hypermarkets – the highest in the country.

S.M. Ramanathan, vice-president and business manager (Telangana & AP), Spencer's Retail, told the media after the inaugural of the two hypermarkets that the company had made its first ever operating profit this May and there was a steady, double-digit store sales growth in the first quarter of this fiscal.

Currently Spencer's hypermarkets in Hyderabad are attracting nearly 4 million footfalls every month.

Spencer's is also evaluating possibilities about tying up with hyper-local startups for digital footprint for the retail major. The retail giant is keeping an eye on the new development of hyper-local delivery startups as they are gaining popularity.

Spencers retail sector head Shashwat Goenka indicated that the company was still evaluating whether to launch its own e-commerce arm or tie up with hyper local stratups to overcome the logistics challenges or adopt a mix of both.

Pricing also remains to be a challenging task for e-commerce at the time when e-tailers were engaged into deep discounting.

Spencer's profits have been erratic and e-commerce could help the retail major in attaining higher sales. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X