Spencer’s Retail investing huge, plans for new hypermarkets and stores

Spencer’s Retail, a division of RP-Sanjiv Goenka Group, is now eying revenues of Rs 5,000 crore in next four years from annualised sales of Rs 1,600 crore at present. For the target, the company is planning to open add 80-100 hypermarkets during that period, and this fiscal it plans to open nine such stores, and 15 next fiscal. Also, Spencer’s Retail is adding 80 stores till the next four years, with 2013-14 being year one. And they are planning to roll out nine this year as they have already done sis stores so far this fiscal. The target is to open one this month and two in March, according to a company source. Such big boost in the expansion plan of the retail major is an added advantage which retail players can get new business opportunity in in-store displays, designs, branding, etc.