Spencer’s Retail investing Rs 600 crores in new hypermarkets

Spencer’s Retail, which recently underwent a painful year-long cocktail of rationalisation and consolidation, is now ‘ruthlessly focusing’ on the hypermarket format of stores. The Kolkata-based company has chalked out an aggressive strategy, which will see an overall investment of nearly Rs 600 crore, to open nearly 12 such hyper stores by the end of this year, and over 50 more over the next few years. Big expansion plan of Spencer’s Retail’s retail footprints would bring in another gig opportunity to expand business in the segment.