Spencer's Retail
 | This article contains promotional content. (January 2017) |
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| Company type | Subsidiary |
|---|---|
| Industry | Retail |
| Founded | 1863 as Durrant & Spencer |
| Founders | Charles Durrant & John William Spencer |
| Headquarters | , |
Number of locations | 120 Across 35 Cities [1] |
Number of employees | 5000+ |
| Parent | RP-Sanjiv Goenka Group |
| Website | https://www.spencers.in |
Spencer's Retail is an Indian chain of retail stores headquartered in Kolkata, West Bengal having presence in over 35 cities in India. Spencer's is based on the 'Food First' Format (it mainly offers fresh and packaged food). Many outlets though sport multiple formats for retailing food, apparel, fashion, electronics, lifestyle products, music and books. It is owned by RP-Sanjiv Goenka Group. Spencer's acquired the premium retail chain Nature's Basket from the Godrej Group in May, 2019.
About Spencer
Spencer's began operations as a retail chain in the early 1990s[2] in Southern India. Stores are largely set up in one of 2 formats.
- Convenience stores, called Spencer’s
- Hypermarkets, called Spencer’s Hyper
Between 2006-2009, 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 Kolkata. The store is spread over 72,000 square feet (6,700 m2) and is located in the famous South City Mall. During 2009 to 2016 it underwent consolidation by shutting down non-performing stores and the Company achieved break-even on EBITDA level by 2016. The recent strategy has been that of Profitable Growth in chosen Geographies.
In 2015, Spencer's acquired the online grocery store Meragrocer for an undisclosed amount. Spencer's has been Strengthening Omni Channel Presence since then.
The company has launched a Diversified Private Label Program and has been focusing on Increasing share of High Margin Categories.
The company achieved positive Profit after tax (PAT) for the year 2018-19
As of June 30, 2019 the total number of stores has increased to 160 on a standalone basis. On July 4, 2019, Spencer's Successfully Completed the acquisition of natures basket limited from Godrej Industries Ltd. It is believed that the acquisition will help them to unlock synergy and give access to them in the western markets of India.
Key people
- Shashwat Goenka Sector Head Retail
- Devendra Chawla MD & CEO
- Tanmay Kumar - CFO
- Rahul Nayak - Executive Director - Operations
- Naresh Kumar Puritipati - VP - Human Resources
Private Brands
Spencer's boasts of a wide range of private brand products that encompasses both foods as well as non-foods FMCG category. 'Spencer's Smart Choice' is the leading instore brand which has a plethora of products ranging from juices, noodles, cookies, honey, air fresheners etc. Spencer's also has the 'Clean Home' range of home improvement products and 'Tasty Wonders' range of snacks and impulse food range. Apart from this Spencer's has very successfully launched its general merchandize products under the brand name of MAROON which includes Non Stick, Hard Anodized, Home Plastic and Foils.
Expansion
Retail chain Foodworld has been bought over by the Future Group. All stores have been re branded under the Spencer's banner once formalities are completed.
See also
References
External links