Indian retailer plans massive expansion

Indian retailer Spencer’s Retail plans opening 100 hypermarkets across the country by 2017.

The retailer currently has a chain of 32 large format stores in 30 Indian cities.

“Now we will focus more on tier-two towns as more and more people have taken shopping as an entertainment. Most people go for cinema but they also shop at the nearest available hyper stores,” said executive director Kingshuk Basu.

The company plans to invest Rs4-6 crore ($1 million – 1.5 million) per store, each spanning more than 20,000 sqft, depending upon the availability of the property.

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