RPG to sell Spencer's retail stake, opening more stores

RPG Enterprises Ltd is in talk with private-equity companies for selling a stake in its retail venture, Spencer’s Retail Ltd, at a time when a rebound in consumer demand is spurring retail operators to seek funds for expansion. The transaction would depend on right valuations and right conditions. In turn, the company would open 10-15 large stores across the country this year. RPG currently operates about 220 outlets, comprising the Spencer’s chain of small neighbourhood stores and Spencer’s Hyper chain of large stores. RPG’s expansion plan is indeed a golden opportunity for in-store media companies and signage suppliers for grabbing new business.