The Hindu : Business : RPG to expand retail business

Online edition of India's National Newspaper
Wednesday, Oct 19, 2005

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Business

RPG to expand retail business

Special Correspondent

Spencer's undergoes logo change

Four formats planned depending on the floor area Eight stores to come up by April 2006 May go for initial public offering

KOLKATA: The RPG group has recast the 100-year-old Spencer's logo, even as it lines up a Rs. 200 crore expenditure in the next 18 months to consolidate its retail business.

Group Vice-Chairman, Sanjiv Goenka, said Spencer would begin its retail foray in North India on October 20, with the opening of the first store in Delhi. This would be a 25,000 sq. ft. Spencer's Hyper market store. Spencer's retail foray, after its recast, will have four formats — `fresh', `daily', `super' and `hyper' — depending on the floor area. He said eight more such hyper stores, including one in Hyderabad, would come up by April 2006. The retail business of the group has two main segments — music and entertainment under MusicWorld and non-music under Spencer's. Mr. Goenka said a new segment would be launched but he declined to elaborate.

Unveiling the new corporate identity of RPG Retail, he said the new Spencer's logo reflected a contemporary style and an aggressive business mode.

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