RPG group plans to invest Rs 1,000 crore on retail outlets

Kolkata: Spencer's Retail Limited, an RPG group company plans to roll out 500 new retail outlets across the country within a year at an investment of Rs 1,000 crore, Sanjiv Goenka, vice-chairman of the RPG Group said.

These 500 outlets will be over and above the 400 existing Spencer's outlets in 60 cities.

Apart from these outlets, Spencer's would also set up 12 new hypermarkets in the country within a year.

The area of each of these hyper stores would range from 40,000 sq ft to 70,000 sq ft and the investment for each of these stores will be Rs 25-30 crore.

Out of these 12 new hyper stores planned by Spencer's, two of them would come up in Kolkata within two months, one at Rashbehari Avenue and the other at Mani Square at Ultadanga, Goenka added.

He was talking to mediapersons at the preview of the inauguration of Spencer's maiden hyper store in Kolkata in South City Mall, located at Prince Anwar Shah Road.

This hyper store, having a trading area of 72,000 sq ft, will be the company's largest hypermarket in the country.

Spencer's hyper store in Kolkata would display more than 70,000 items which comprises 35,000 items of daily use, 25,000 books and also an unparalleled collection of music CDs and DVDs.

The striking feature of this hyper store is the presence of 3,500 food items which includes imported specialty food products from US, Thailand, Japan and Italy.