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Spencer's plans for Rs 100 crore investment for 15 new stores

RPG Enterprises' Spencer's Retail is set to invest up to Rs 100 crore in the coming financial year to open, close to 15 large-format stores.


February 19, 2010  |  comments ( 5 )  | 
Spencer's plans for Rs 100 crore investment for 15 new stores

RPG Enterprises' Spencer's Retail is set to invest up to Rs 100 crore in the coming financial year to open, close to 15 large-format stores. 

“The stores would cover an area of 15-30,000 sq. ft. each. We would be adding another half a million square feet of shop floor area this year,” said Mr Vineet Kapila, Chief Executive Officer, Spencer's Retail.  

Spencer's Retail had said last month that it was in talks with a private equity firm to offload 15-20 per cent stake in the company. 

However, commenting on the proposed stake sell-off by Spencer's Retail, Mr Kapila said that the company would do it only when the market conditions were right and as of now the company had enough cash to fund its expansion plans. 

Spencer's sales have been up 20-30 per cent and the company expects to have a turnover of Rs 800 crore in FY09-10. The company, at present, has 275 stores across 50 cities, 36 of these stores are large format stores. The company has a retail footage of 1.1 million sq ft.


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MANISH CHANDNA February 22, 2010 at 1:48 am

INTERESTED IN SPENCER EXPRESS STORE IN DEHRA DUN

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ashokkesharwani February 21, 2010 at 5:20 am

I am B-pharm graduate living in ALLAHABAD(U.P) wants to extend your business

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meenakshi jain February 20, 2010 at 8:39 am

let us know if you are interested to open up a store in Vellore (Tamil nadu). this place has a good potential . Hence we could partner or be a franchisee. Thanks meeenakshi 9345314851

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Abhishek pal February 20, 2010 at 8:14 am

i want to know your franchise prosidure? Require area sqft, frinchise fees, facility provide by company etc.Please send me detail ASAp

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RAJENDRA KUMAR February 19, 2010 at 9:30 pm

send particulars

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