Spencer's Retail to open 12-15 stores in 2015-16, plans e-commerce foray

'We would freeze the e-commerce business model within next couple of months. Then over a timeframe, we would implement it,' says Sashwant Goenka.
Spencer's Retail to open 12-15 stores in 2015-16, plans e-commerce foray

KolKata: Spencer’s Retail, a CESC subsidiary, plans to open 12-15 new large format stores or hypermarkets across India by end of March 2016.

The company also announced that it will finalise its e-commerce plan by April.

'We are targeting to open at least 12 to 15 hyper stores in the next (2015-16) fiscal increasing the total retail area to 14 lakh square feet,' sector head, Spencer's Retail Sashwant Goenka said.

Most of these would be in the east and the south. Spencer’s is opening its 7th hyper store in Kolkata on Saturday.

"After we expand into the south, north and eastern region, we will then focus on the west," he added.

He also said that the prices for brick and mortar stores and e-commerce would be the same.

'We would freeze the e-commerce business model within next couple of months. Then over a timeframe, we would implement it. We are likely to begin with a few categories of products for our online store,' he added.

Spencer's currently operates 125 stores across 36 cities in the country, covering a total retail space of over 1.05 million sq-ft, he said.

Of this, 34 stores are large format outlets covering an area of at least 18000 sq ft each, where as the remaining outlets are smaller ones with an average area of 10,000-12,000 sq-ft per store.

The company will invest Rs 3 to 5 crore for each of these stores.

The retailer will keep food items on its primary focus, but it also wants to turn its attention to the non-food sector in its retail business.

"We want to focus on the non-food category but the food items will remain a priority... 75 percent of our total business comes from the food category," Goenka said.

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