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Future Plan

It will be going in for public issue within the next 12 months to raise capital for expansion. The company plans to focus on the larger format stores in the identified growth clusters with higher market potential value and stronger brand equity for Spencer's. These clusters are Bangalore, Hyderabad, Coastal Andhra Pradesh, Chennai, Delhi NCR, East UP, Pune, Mumbai, South Kerala, Aurangabad, Punjab and Kolkata. The company will be investing Rs. 10 billion over the next 3 years using both internal source and an IPO. The company has already reserved 1 million square feet of space all over the country and will be creating close to 10,000 jobs in its different formats. Spencers Retail currently employees 4,500 people and has 6 million square feet of space. In every financial year, Spencers is increasing its stores from 150 to 250 with a target of expanding by 400 more in the next two years. The company had last year announced a Rs 1,500 investment plan to expand its business across the country. Spencers was the first to introduce the concept of music retailing with "Music World" chain of stores, followed by "Books and Beyond"[Retail chain of Book Stores] and "RPG Cellucom"[Retail Chain of Mobile Stores]. They are planning to setup 1,500 cellcoms and 400 Music Stores by 2010. Spencers has announced that it will very soon launch CRT TVs under the brand name Yashika. Spencers is all set to enter the standalone Lifestyle Retailing segment by opening American Lifestyle Brand stores in India - Beverly Hills Polo Club [BHPC]. The company plans to setup five BHPC stores all in the Delhi NCR region and then move to other metros.