New Delhi: Retail major Spencer’s will expand its operations in the country by setting up additional 22 large format stores and 425 small outlets, especially in Tier-II and small cities in this fiscal.
The retail chain has 18 large and 375 small format stores at present in India.
“The company is going for a major consumer interface programme to target the average middle class customer. For Spencer’s, value is the main brand aim,” Spencer’s Apparel Head Anurag Rajpal told PTI on the sidelines of Pure&Play Retail Summit here.
The company is targeting a turnover of Rs1,800-2,000 crore this fiscal. It had recorded a turnover of Rs1,000 crore in 2007-08
While Spencer’s large format store has area of 20,000- 80,000 sq ft, the small format store are of 2,000-10,000 sq ft size.
“We are basically targeting tier-II and small cities for our expansion and we will go for a mix of national and international labels in our stores,” he said.
Spencer’s is also launching one lifestyle brand from the US and a kids brand from the UK this year.
“Our labels are in all categories including formal casual ethnic footwear and accessories. The company will also be launching two new label including UNI in accessories category and LA Bonita in woman footwear.