With an omni-channel strategy, Spencer’s Retail wants to grow and hopes to add 10 to 15 new physical locations. Along with supermarket chain Nature’s Basket locations, the company will open a variety of Spencer’s Retail outlets for clothes, food, and lifestyle items.
“To transform and thrive in the industry, Spencer’s continues to foster business growth through the omni-channel transition and entering into a new ‘value market’ proposition,” said RP Sanjiv Goenka Group’s chairman Sanjiv Goenka.
186 outlets are currently operated by Spencer’s Retail in 44 Indian cities. While 107 of these stores are small-format, 10 are value outlets, and 79 of these stores are large-format.
The largest percentage of the company’s income, 77 per cent, comes from its large-format stores. The company intends to increase the value of its offering in order to meet the rising demand for affordable branded items.
Spencer’s Retail recorded revenue of Rs. 2,485 crore for the 2023 fiscal year and earnings before interest, tax, depreciation, and amortisation of Rs. 36 crore. As the popularity of online shopping among consumers continues to rise, the company’s e-commerce-focused subsidiary Omnipresent Retail India Private Limited had its first positive EBITDA at a gross merchandise value of Rs. 302 crore in the most recent fiscal year.
