Spencer’s Retail to now open electronics outlets

Spencer’s Retail is already working hard on expanding their presence in the food and grocery retail market.

The company has now announced their plans to launch electronic outlets. Spencer’s Retail senior vice-president-operations Ramesh Menon said in a statement on their plans: “This year we will be launching five exclusive Spencer’s electronics outlets in the south, except Chennai. The first one will be opened in Hyderabad. Later, the format will be rolled out nationally.”

Incidentally, the company already has some stores selling mobile devices under the brand name RPG Cellucom. They are going to expand this chain to have 200 stores before the end of the current fiscal year.

Also planned is a chain of stores under the brand Spencer’s Book and Beyond which would offer books, music and stationery items. The first outlet would be opened in Delhi.

Menon added on their expansion plans: “We are aggressively expanding food and grocery business. We are quickly ramping up operations by opening 40 to 50 Spencer’s Daily outlets every month. So far, we have touched 320 outlets. Before March-end, it will touch 600 across the country. The expansion will involve an investment of Rs 500 crore.”

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