Chhattisgarh and MP tops Spencer's expansion plan

Spencer’s retail limited, India’s leading chain of retail stores, has identified Chhattisgarh and Madhya Pradesh as potential states for its expansion plan.“We have chosen Chhattisgarh and Madhya Pradesh as growth engine for future,” Spencer’s retail limited President and Chief Executive Officer Mohit Kampani said after inaugurating the Hypermarket in Raipur Friday afternoon. Kampani said they were looking to add nine stores in next two years in Chhattisgarh and Madhya Pradesh. Both the states have many towns that have high potential for retail stores, he added.

“We are very aggressively expanding our footprint in the country and are in the process of opening 12 hypermarkets by the end of the current financial year in chosen geographies,”

Kampani said, adding that Raipur store would be the sixth in the series. With its foray in Chhattisgarh capital, Spencer had entered into 38th city across the country.

The company also plans to increase the number of hypermarkets from 31 to 100 by 2017.  With the 12 new shops to be opened in the current fiscal, the company had planned to add around 30,000 square feet of new trading area by the end of the current financial year.

In Raipur, its aim to become a household name soon. Company’s Vice President (Foods) Kuldeep Goyal informed that the Spencer’s Patisserie—the live bakery—would be the highlighter of the store in Raipur. Being first of its kind in Raipur, Goyal said, the bakery would offer a variety of freshly baked breads, cakes, rusks, cookies etc.