Spencer's Retail is an Indian chain of

retail stores The retail format (also known as the retail formula) influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace, that is; a location where goods and services are ...

headquartered in

Kolkata Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, comme ...

West Bengal West Bengal (, Bengali: ''Poshchim Bongo'', , abbr. WB) is a state in the eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabitants within an area of . West Bengal is the fourt ...

. It has presence in over 35 cities. Spencer's is based on the 'Food First' Format (it mainly offers fresh and packaged food). Many outlets offer multiple formats for retailing food, apparel, fashion, electronics, lifestyle products, music and books. It is owned by RP-Sanjiv Goenka Group.

History

Spencer's began operations as a retail chain in the early 1990s in

Southern India South India, also known as Dakshina Bharata or Peninsular India, consists of the peninsular southern part of India. It encompasses the States and union territories of India, Indian states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and T ...

. Between 2006 and 2009, Spencer's brand expanded rapidly and at one point of time, had 300+ stores. In 2008, Spencer's opened its largest store in India in the eastern Indian metropolis of

. The store spreads over and is located in the

South City Mall South City Mall is a shopping mall in South Kolkata, West Bengal. Located at Prince Anwar Shah Road, Jadavpur (where the erstwhile Usha Industries factories and staff quarters were situated), it has been open since 16 January 2008. It has a Gro ...

. During 2009 to 2016 it underwent consolidation by shutting down non-performing stores and the Company achieved break-even

EBITDA A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, pronounced , , or ) is a measure of a company's profitability of the operating business only, thus before any effects of indebtedness, stat ...

by 2016. The strategy is profitable growth in chosen geographies. In 2015, Spencer's acquired the online grocery store Meragrocer for an undisclosed amount. Spencer's has been strengthening

omnichannel Omnichannel is a neologism describing a business strategy. According to ''Frost & Sullivan'', omnichannel is defined as "seamless and effortless, high-quality customer experiences that occur within and between contact channels". History "Omnis" is ...

efforts since then. The company launched a diversified

private label A private label, also called a private brand or private-label brand, is a brand owned by a company, offered by that company alongside and competing with brands from other businesses. A private-label brand is almost always offered exclusively by th ...

program and has been focusing on increasing share of high margin categories. The company achieved positive after tax profit for the year 2018-19 As of June 30, 2019, the total number of stores was 160 on a standalone basis. On July 4, 2019, Spencer Successfully Completed the acquisition of Nature's basket limited from Godrej Industries Ltd. The company claimed that the acquisition would help them give access in India's western markets with around 31 physical stores in major cities.

Formats

Stores are largely set up in one of 2 formats. *

Convenience stores A convenience store, convenience shop, corner store or corner shop is a small retail business that stocks a range of everyday items such as coffee, groceries, snack foods, confectionery, soft drinks, ice creams, tobacco products, lottery ticket ...

, called Spencer’s *

Hypermarkets A hypermarket (sometimes called a hyperstore, supercentre or superstore) is a big-box store combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including ...

, called Spencer’s Hyper

Key people

* Shashwat Goenka Sector Head * Devendra Chawla MD & CEO * Neelesh Bothra - CFO * Rahul Nayak - Executive Director - Supply Chain * Aniruddha Bannerjee - CSO * Sutanu Choudhury - CHRO

Private brands

Spencer's offers a wide range of private brand products that in both food and non-food categories. 'Spencer's Smart Choice' is the leading instore brand which labels products ranging from juices, noodles, cookies, honey, air fresheners etc. Spencer's has the 'Clean Home' range of home improvement products and 'Tasty Wonders' range of snacks and impulse foods. Spencer's offers general merchandize products under the brand name of Maroon, which includes Non-stick and hard anodized pans, plastic goods and foils.

Expansion

Retail chain

Foodworld Future Group is an Indian conglomerate, founded by Kishore Biyani and based in Mumbai. The company is known in Indian retail and fashion sectors, operating supermarket chains Big Bazaar and Food Bazaar, lifestyle stores Brand Factory and Centr ...

was bought over by the Future Group. All stores were re-branded under the Spencer's banner once formalities are completed.

References

External links

* {{RPG Group Hypermarkets Supermarkets of India Companies based in Kolkata Retail companies established in 1863 RPG Group Indian companies established in 1863 RPSG Group