After having shut down over 100 stores in the past year or so, Spencer’s Retail, a subsidiary of RPG Enterprises, will now invest Rs 100 crore in expansion this fiscal and introduce some international apparel brands in the country.
The company is also looking at expanding the US-based Beverly Hills Polo Club (BHPC) brand, with which Spencer’s Retail had tied-up last year. It will raise the number of BHPC standalone stores to 10 in the next six months from three at present.
“We are planning to invest Rs 100 crore this year on expanding our retail business. This will cover both the BPCH brands as well as 10-12 large format Spencer’s stores we plan to open during next six months,” RPG Enterprises Vice Chairman Sanjiv Goenka said in New Delhi.
“We are in discussions with three international players from the apparel category and we are hopeful of bringing them to the country soon,” Goenka said.
He, however, refused to disclose further details, including names, of the brands or the nature of likely tie-up.
Spencer’s Retail had shut down over 100 of its outlets last year due to low footfalls and sales and high rentals.