Spencer Retail, India’s largest retail chain, plans to invest US$750m within the next two years in its expansion across the country.
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The company is looking to take its store network from 400 stores to 690 outlets by March 2009. Last week, Spencer kicked off the expansion with the opening of a hypermarket in Gujarat.
Samarsingh Sheikhawat, Spencer’s vice president for marketing, told just-food: “We have 400 stores today, of which 15 are hypermarkets of 25,000 sq ft and above; 15 are supers of 10,000 sq ft; and 370 dailies and express stores of 1,000-5,000 sq ft. These will go up to 45 hypers, 45 supers and 600 dailies and express stores by the end of March 2009”.
Spencer is looking to focus on hypermarket business, Sheikhawat said, “because our differentiated brand, product range and experience strategy can only be delivered in the large format hypermarkets”.
The opening of a Spencer hypermarket in Kerala last December faced furious protests but said the store remains in operation and is performing well, thanks Sheikhawat said, to “a bit of good public relations”.
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