Spencers Retail to Invest $500 Million

RPG group's Spencers Retail has chalked out a $500 Million expansion plan which involves setting up 1,000 stores across India by 2009 [Mostly Spencer Fresh and Daily stores]. Compared to the investment, Kishore Biyani and Mukesh Ambani are talking this is just peanuts.

Spencer's have the first to market advantage though their stores have lost charm in Bangalore to Subhiksha, Trinethra etc.

Spencer's operates under the following brands,

• Spencer's Fresh
• Spencer's Daily
• Spencer's Super
• Spencer's Hyper

The RPG group also owns and runs Cellcom Express [ Mobile Retailing] and Music World. They are planning to setup 1,500 cellcoms and 400 Music Stores by 2009. RPG also has 8 Spencer's Hypermarket stores under operations. They are also planning for an IPO at some point.