Spencer Retail, a subsidiary of the Goenka owned RPG Group will open 70 outlets across India of the premium brand Beverly Hills Polo Club (BHPC), for which it has earmarked Rs 200 million and is in the process of negotiating lease rentals with mall developers.
The brand which was launched in November last year, currently operates four company-owned stores in the capital, Delhi and plans to spread its wings to 30-40 towns and cities across India by 2011, by opening company-owned and franchisee outlets.
Fibre2fashion spoke exclusively to Mr Anurag Rajpal, Vice-President (Apparels), Spencers Retail to know more about their future plans, to which he said, “Currently we have a retail presence of 1 million sq. ft. which we plan to increase to 1.3 million sq. ft. in the next 12 months, with a focus on large format stores.
“The company plans to focus on the larger format stores in the identified growth clusters with higher market potential value and stronger brand equity for Spencers. These clusters are Bangalore, Hyderabad, Coastal Andhra Pradesh, Chennai, Delhi NCR, East UP, Pune, Mumbai, South Kerala, Aurangabad, Punjab and Kolkatta.
“It would also focus on high margin verticals like private labels and fashion. Currently, the two verticals independently contribute about 15 percent to the total revenue of Spencer's which is targeted to be enhanced to 30% within next couple of years. New categories and new products in existing categories in the private label portfolio are currently being launched across food, fashion, home and entertainment, and plan to Plans to launch 10 BHPC standalone stores in NCR region by March 2010”, he concluded by saying.
Giving out more details on BHPC, Mr Rajpal said, “Spencers in India is the master licensee of “The Beverly Hills Polo Club” brand in India and was launched in New Delhi in November 2008 and the brand evokes casual, relaxed yet affluent and elegant southern Californian lifestyle. It presents product categories in line with its image viz, T-Shirts, Polo's, Sweat Shirt & Sweat Pants, Causal Shirt & Trousers, Denims, Sweater, eyewear and watches for Ladies and Men's. Formal Shirts & Trousers are an added category in the Menswear segment.
He added by saying that, Beverly Hills Polo Club is very strategically developed by Spencers for the Indian market with fine product attributes that makes aspirational fashion affordable.
Fibre2fashion News Desk - India
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