After acquisition, RPSG aims to make Nature's Basket profitable in 2 years

Loss-making stores to be shut down, even as Spencer's plans to take Nature's Basket footprint to new markets

After acquiring loss-making Nature’s Basket in a Rs 300-crore deal this July from the Godrej Group, Spencer’s Retail is targeting to make the business venture profitable in the next two years.

In the past 14 years of operations, Nature’s Basket has never been able to make a profit and before the acquisition, in the last fiscal year, it reported losses of around Rs 60 crore with revenues of about Rs 300 crore.

On the other hand, Spencer’s, the listed retail arm of the RP-Sanjiv Goenka Group (RPSG), was able to register a full-year of profit at the company level in the 2018-19