Spencer's, a popular food and grocery retail chain brand, now wants garments to account for a third of its earnings, as against just 10 percent now.
This RPG group's retail chain, which has a franchisee deal with Beverly Hills Polo Club (BHPC), launched BHPC store in Mumbai, last week. Spencer's intends to launch 18 more stores in the current fiscal, and take the total number of retail or chain stores to 29.
Also part of its expansion plans, is to introduce four flagship stores of Ecko and two of Ladybird in New Delhi. More over, Spencer's is also intending to flare up its share of private brands in its net revenues from the current 17 percent to 30 percent, within the coming 18 months.
From the current, 0.9 million square feet, Spencer's is intending to add more 1 million square feet of retail area by 2013. After shutting down almost 50 percent of its stores (or 20 percent in square feet), it is now eyeing the hyper markets.
Fibre2Fashion News Desk - India
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