100 hypermarkets to be opened by Spencer’s by 2017
Spencer’s Retail Limited announced that they would open 100 hypermarkets (retail stores) across India by 2017. It is a RP-Sanjiv Goenka group company.
The company on Friday opened 32nd hypermarket which is its first in Bhopal. The group plans to open two more hypermarkets before the end of this financial year. The company said it would invest in hyper stores in different phases. Depending upon availability of the property, the investments are expected to be in the range of Rs. 4-6 crores.
Kingshuk Basu, executive director (operations) explains that the company will set up stores in Aligarh and in Kadapa (formerly known as Cuddapah in Andhra Pradesh). He added that the company has a chain of 32 large format stores in 30 cities of the country. He points out that tier II town are a major focus for the group.
The stores will have areas of more than 20,000 sq ft each. The company estimates to have trading area of 3,00,000 sq feet by the end of this financial year.
Source: Business Standard
Aligarh, goenka, Hypermarket in India, hypermarkets, spencer’s, Tier-II
