Spencer’s Retail news and archive

Spencer’s Retail focuses on store profitability

Spencer’s Retail is working on store profitability. Three loss-making stores have shut. The Kolkata-based company currently has a presence in over 35 cities across India. It sells a wide range of products including apparel, footwear, cosmetics, home essentials and more. Spencer’s Retail is working on cultural integration, ensuring continuity of...

Apparel

Biyani closes unviable Big Bazaar stores

In a bid to improve profitability, the Kishore Biyani-led Future Group has shut down nine Big Bazaar stores last year and revamped existing ones. It also shut five Food Bazaar supermarkets. While the company opened 18-20 Big Bazaar stores in the last year, net store addition stood at 10. Big Bazaar stores at Bangalore, Kharghar and Sangli in...

Apparel

Retailers grab lucrative realty-deals to expand

Retail chains such as Future Group, Spencer’s Retail, Woodland among others are finding lucrative rental deals easier now compared to earlier and in favourable terms, since real estate developers are now offering to release space piled up in anticipation of foreign retailers’ entry. Home grown retailers are making the most of it. While rentals...

Apparel

Contrary to the West, Christmas cheers India’s retail

While globally, Christmas joy may not have brought in a much expected retail boom, but in India, consumers were seen loosening their purse strings yet again. Post buoyant Eid and Diwali; consumers are spending on everything from wines to smartphones and clothing spreading Christmas joy among retailers. On the international front, research firm...

Apparel

Mohit Kampani to take charge as Spencer’s CEO

Vineet Kapila, CEO at Spencer’s Retail is said to have put in his papers and will be replaced by Mohit Kampani, the current head of merchandising and operations. The retail arm of RP-Sanjiv Goenka Group has hired two global retail hands -- Venkat Narayanan, former director of merchandising at Office Depot in the US, and Kingshuk Basu, a former...

Apparel

Kolkata the highest revenue-earner for big retailers

Though West Bengal’s chief minister Mamata Banerjee led Trinmool Congress is against government allowing 51 per cent FDI in multi-brand retail, India’s big retail chains and food outlets are finding Kolkata to be the highest revenue earner for them. For instance, Spencer’s Retail, Pantaloons and Future Group’s Home Town have their top-selling...

Apparel

Retail biggies rejig operations before stake-sale

Now that the 51 per cent FDI in multi-brand retail has been approved by the Cabinet, India’s top retailers such as, the Future Group, Bharti Retail, Spencer’s Retail, Videocon’s Next Retail and Gitanjali Group are working over splitting their operations before selling stakes to foreign players. Since the decision over whether to let the foreign...

Fashion

Reduction of apparel prices, brands unsure

Indian apparel retailers seem to be stuck between a rock and a hard place. On one hand, falling cotton prices is inducing them to reduce product prices to woo back customers while on the other hand, they are fearing the government’s decision to retain 10 per cent excise duty on branded apparel would force them to hold on to the hike. And the...

Fashion

Indian retailers in a catch-22 situation on FDI in retail

Amid growing opposition to its decision of allowing foreign direct investment (FDI) in retail sector, the UPA government has decided to put the issue on the back burner. The much awaited approval to 51 per cent FDI in multi-brand retail was approved by the Cabinet recently. In fact industry majors like the Future Group, Bharti Retail, Spencer’s...

Apparel

Spencer’s to launch more LFS

Riding on last year’s turnover of Rs 1,050 crores, RPG Group company Spencer’s Retail is focusing on Rs 1,200 crores turnover by the end of the year. To achieve its goals, the company is planning an aggressive retailing strategy. It would add four large format stores (hyper stores) in Bangalore, Uttarakhand and Kurnool by the end this year at an...

Apparel

Spencer’s bets big on Tamil Nadu

Spencer's Retail one of the fastest growing retail stores owned by the RPG Group, is now focusing on big format stores. And Tamil Nadu is where Spencer’s Retail plans large scale expansions to establish a dominant presence in the state. The plan is to have more and bigger outlets in the 13 cities that Spencer’s Retail is present in with about...

Apparel

Kolkata gets 4th Spencer’s Hyper store

Kolkata’s has got its fourth Spencer’s Retail hypermarket at Axis Mall, Rajarhat town. It offers a range of products ranging from food, vegetables, fruits, cosmetics, garments to electrical equipments. While the project site at Rajarhat is thinly populated unlike areas like south Kolkata, Vice Chairman of RPG, Sanjiv Goenka says the store was...