Spencer`s Retail, a retail arm of RPG Group, is making a major breakthrough with its new venture to set up five standalone stores of the US brand Beverly Hills Polo Club in India. Spencer`s has already set up nine BHPC shop-in-shop outlets across the country after its exclusive brand license tie-up with BHPC late last year. The first exclusive outlet will set its foot in Delhi-NCR area in the first phase of this fiscal year. BHPC is a globally acclaimed lifestyle brand that has given a new dimension to the world fashion and is now all set to penetrate the Indian market. At present, the brand has 9 BHPC shop-in-shop outlets over 10,000 sq. ft. in Spencer`s hypers and the upcoming standalone stores would be set over approximately 1000-2000 sq. ft space.
Verifying the news, the Vice President of the company Mr. Samar Singh Sheikhawat said “We are planning to add 400 more stores over the next two years, which would give the enough leverage to target revenue of approximately Rs 1250 Crores in the next fiscal.” While currently, the new outlets will mark in and around the national capital, the brand is looking forward to promote BPHC product portfolio in the cities of Hyderabad, Tamil Nadu, Karnataka, UP, Jharkhand, Bengal in the next phase.
While currently, menswear, women wear, accessories, watches and the sunglasses ranges are available in the Indian market, the brand is also planning to expand into other products like perfumes, shoes, belts and wallet. “The Merchandize range would remain the same but greater depth would be added which means better assortment than what is available in the shop-in-shops”, the Vice President said. “The company will focus on private labels and on fashion and accessories as they provide twice the margin as compared to food”, he further added.
Spencer`s is planning to raise its profit by managing inventories better, rationalizing rentals, product assembling and boosting people productivity. This apart, the brand will concentrate on the product mix. “We provide a wide variety of international and domestic products. For our clothing section, we have tied up with international brands like Beverley Hills Polo Club for adults and Ladybird for kidswear and these are exclusively available at Spencer`s”, Mr. Sheikhawat said.