Spencer’s Retail may go online by April 2015

Spencer’s Retail, a subsidiary of Sanjiv Goenka group’s CESC may firm up its e-commerce plans by April this year. Beginning with a few categories, the company would offer same prices online as well as through its physical stores, apart from expanding its basket of private labels in food and apparel categories.

For the apparel segment, Spencer’s plans to add a new sourcing point in Kerala. The company has so far established seven apparel brands. On the physical retail expansion side, Spencer’s will expand its chain mainly through large-format supermarkets of above 25,000 square feet to turn it profitable. As a part of its growth strategy, Spencer’s has decided to focus expanding on the eastern and southern markets.

In 2015-16, Spencer’s will open 12 to 15 large-format stores, most out of these would be in the east and south India. The chain is opening its seventh hyper store in Kolkata this week. For expansion, the company will spend Rs three to five crore for each hyper store.