07-12-2007, 11:53 PM
<b>RPG to open one store a day in the next one year </b>
Pioneer.com
PTI | Mumbai
RPG Group, which owns the Spencer's brand of retail stores, will invest Rs 1,000 crore for opening nearly 365 supermarkets in the next one year.
Ruling out any tie-up with global retail chains, RPG Enterprises Chairman, Harsh Goenka said the group had the necessary wherewithal to conduct the business on its own.
"We have 200 stores presently and are expanding very fast. We will be opening from now on almost one store everyday in the next one year. Last week, we had opened 40 stores," Goenka said here.
Spencer's Retail offers a complete gamut of products and durables ranging from bread to bed.
"We see no need to bring in a strategic partner as we have the knowledge about Indian customers, a large database as well as the IT backbone to run the business on our own steam."
In fact, RPG's IT arm, Zensar, was providing the software to global retail majors including Marks & Spencer's, Target and Dubai-based Landmark.
RPG Group is the second largest retail chain in the country despite several major industrial houses, including the Mukesh Ambani led Reliance, Sunil Mittal's Bharti Group and Kumar Mangalam Birla Group, having entered the fast-growing sector recently.
Goenka also plans to tap the capital market for his retail business within the next 12 months but nothing has been confirmed so far.
RPG Group took over the century-old Spencer's, a Chennai- based retailer in the 1990s, and has gradually been expanding its retail business pan-India under this well-known brand.
Pioneer.com
PTI | Mumbai
RPG Group, which owns the Spencer's brand of retail stores, will invest Rs 1,000 crore for opening nearly 365 supermarkets in the next one year.
Ruling out any tie-up with global retail chains, RPG Enterprises Chairman, Harsh Goenka said the group had the necessary wherewithal to conduct the business on its own.
"We have 200 stores presently and are expanding very fast. We will be opening from now on almost one store everyday in the next one year. Last week, we had opened 40 stores," Goenka said here.
Spencer's Retail offers a complete gamut of products and durables ranging from bread to bed.
"We see no need to bring in a strategic partner as we have the knowledge about Indian customers, a large database as well as the IT backbone to run the business on our own steam."
In fact, RPG's IT arm, Zensar, was providing the software to global retail majors including Marks & Spencer's, Target and Dubai-based Landmark.
RPG Group is the second largest retail chain in the country despite several major industrial houses, including the Mukesh Ambani led Reliance, Sunil Mittal's Bharti Group and Kumar Mangalam Birla Group, having entered the fast-growing sector recently.
Goenka also plans to tap the capital market for his retail business within the next 12 months but nothing has been confirmed so far.
RPG Group took over the century-old Spencer's, a Chennai- based retailer in the 1990s, and has gradually been expanding its retail business pan-India under this well-known brand.