Spencer's Retail to open 70 Beverly Hills brand stores
Spencer's Retail, a subsidiary of RPG Enterprises, today said it will open 70 stores of the premium brand Beverly Hills Polo Club across India during the next fiscal.
The company said it has earmarked Rs 20 crore for the purpose and is negotiating with various mall developers to avail themselves of the best rental schemes.
"We are at present operating only four company owned stores in Delhi and we have a target to have our presence in 30-40 cities by 2011, through both franchisee and company owned stores," Spencer's Retail vice president (apparel) Anurag Rajpal told PTI on the sidelines of Franchise India summit here.
The company had introduced Beverly Hills Polo Club brand in August this year.
"We are planning to open 60-70 stores by 2010-11 for which we are negotiating with various mall developers," Rajpal said, adding that the company is deliberating over various models like revenue sharing or minimum guarantee of the stores.
When asked about possible investments, he said it would depend on the number of franchise and company owned stores, but Spencer's Retail has earmarked Rs 20 crore for the expansion of the premium brand during 2010-11.
The average size of the store will vary between 1,200 and 1,500 square feet, he added.