The Hindu : Business : Spencer’s to expand

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Friday, Nov 02, 2007
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Spencer’s to expand

Staff Correspondent

Ties up with Sri Krishna Sweets

CHENNAI: In the wake of a retail boom, Spencer’s Retail plans to expand its outlets from 320 stores to 600 stores by the end of this fiscal. Of the 280 new outlets, three will be hyper markets.

The company will invest nearly Rs. 300 crore on the expansion programme, according to Ramesh Menon, Senior Vice- President, Spencer’s Retail.

Addressing a press conference here on Wednesday to announce a tie-up with the Coimbatore-based Sri Krishna Sweets Pvt. Ltd., Mr. Menon, said Spencer’s had 65 outlets in Tamil Nadu.

The owner of Sri Krishna Sweets, M. Murali, said this concept would create an easy approachability of his products to the consumers. At present, the company was putting up its counter in seven city outlets.

This would be increased over a period, he added.

Mr. Murali said Sri Krishna Sweets had 15 outlets in Chennai.

He said there would be no price disparity between Spencer’s and its own outlets.

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