Spencer's targets Rs 5,000-cr turnover in next four years

Spencer's Retail, part of the RP-Sanjiv Goenka Group, today said it was eyeing revenues of Rs 5,000 crore in next four years from annualised sales of Rs 1,600 crore at present.
"Currently, we are doing about annualised revenue of Rs 1,600 crore, and are looking at about Rs 5,000 crore in the next four years," Spencer's Retail chief executive Mohit Kampani told reporters here.
Talking on the sidelines of the annual retail summit here, he said the company plans to open add 80-100 hypermarkets during that period, and this fiscal it plans to open nine such stores, and 15 next fiscal.

"We are adding 80 stores till the next four years, with 2013-14 being year one. We will roll out nine in this year, we have already done six stores so far this fiscal. We will open one this month and two in March," he said, adding last year it had 25 stores.
The company will be putting up about 25 stores over the next 24 months, he added.