Spencer’s Retail to open 70 Beverly Hills brand stores by 2010-11

28 Nov 2009

1
Spencer's Retail, a subsidiary of RPG Enterprises, said today that it intends to open 70 stores of the premium brand Beverly Hills Polo Club across India during the next fiscal
 
The company has earmarked Rs20 crore for the purpose and is in negotiations with various mall developers to clinch the best deals on rental schemes, it said.
 
According to Aunrag Rajpal, Spencer's Retail's vice president (apparel), who spoke to PTI, the company is currently operating only in four company owned stores in Delhi and has a target to increase its presence to 30-40 cities by 2011. Rajpal was speaking on the sidelines of Franchise India Summit in New Delhi. 
 
The company introduced the Beverly Hills Polo Club brand in August this year.
 
Rajpal said the company is planning to open 60-70 stores by 2010-11 for which it is negotiating with various mall developers. He added that the company was deliberating over models like revenue sharing or minimum guarantee of the stores.
 
Replying to a question about the possible scale of investment Rajpal said it would depend on the number of franchises and company owned stores. He added that Spencer's Retail has earmarked Rs20 crore for the expansion of the premium brand during 2010-11.
 
He said the average size of the store would vary between 1,200 to 1,500 square feet.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers