Spencer's introduces apparel brand 2Bme focusing higher margin

RP-Sanjiv Goenka group owned Spencer's Retail today launched its own apparel brand 2Bme aiming to push up its margin.
"We will follow a shop-in-shop format as of now with 2Bme being the only apparel brand at Spencer's. We have discontinued existing private labels and other brands," Sector Head Shashwat Goenka said today.
'Island Monks' was Spencer's private label for apparels.
According to Goenka, the focus on apparels, a high margin business, would help improve the retailer's top-line and margins.
At present 2Bme brand would be launched across 37-odd hypermarket formats (of Spencer's) and the company expects the brand to be a Rs 300 crore business in the next three to four years.

With four per cent contribution to turnover, this new brand would see the share change to over five per cent within a year's time, the company said.
Goenka did not rule out any call which might be taken to spin-off 2Bme as a separate entity outside Spencer's at a later stage.
"We may take a call on having the apparel brand as a separate business after two to three years. This will depend on the traction that the brand gets," he said.