February 2015 \ Business & Investment \ Business and Investment

  • Mr Sanjiv Goenka

Multi-format food-first retailer Spencer’s Retail, part of the Rs 15,000 crore RP-Sanjiv Goenka Group, will open 10-15 stores annually over the next few years, a top official said in December.

The company plans to open nine stores this year as against the 11 stores it opened in fiscal 2014.

“Our plan is to open 10-15 stores every year with stress on the hyper format,” said company’s Sector Head (Retail), Shashwat Goenka on the sidelines of a programme.

He said the company would spend between Rs 40 crore to Rs 60 crore a year on the expansion.

The organizsation runs about 126 stores, including 33 large format ones, across 40 cities in India employing over 4,500 professionals.