India’s Spencer’s Retail has said it plans to have 100 hypermarkets open across the country by 2017.
The company opened its 32nd hypermarket as part of the plan on Friday 28 February in Bhopal – the first for the Indian state.
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A spokesperson for Indian conglomerate RP-Sanjiv Goenka, which owns Spencer’s, told just-food the group would invest in the hypermarkets in a phased manner, spending approximately INR40-60m per property depending on its availability.
Two more large-format stores, one in Aligarh and a second in Kadapa, are expected to be opened by the end of 2014.
In a report carried by India’s Business Standard, executive operations director for RP-Sanjiv Group, Kingshik Basu, said the group would focus “more on tier-two towns” where shopping was combined with entertainment.
“More and more people have taken shopping as an entertainment. Most people go for cinema but they also shop at the nearest available hyper stores,” he said.
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