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 investment of around Rs 5-6 crore on each store. Meanwhile, it recently inaugurated its second large format store with an investment of Rs 6 crore adding to its kitty of 35 hyper stores It currently has 225 stores across the country, including the 35 hyper stores.

By 2014-15, the company is targeting to break-even at the corporate level since the stores are already showcasing positive results. By the time they aim to have presence in 2 million sq. ft. retail area up from the present 1 million sq. ft.