Spencer's Retail

#9338

Rank

$65.58M

Marketcap

India

Country

Leadership team

Mr. Neelesh Bothra (Chief Financial Officer)

Mr. Devendra Chawla (CEO, MD & Director)

Mr. Rahul Nayak (Whole-Time Director)

Products/ Services

Retail

Number of Employees

1,000 - 20,000

Headquarters

Kolkata, West Bengal, India

Established

1863

Revenue

100M - 500M

Traded as

SPENCERS.NS

Social Media

URL

https://www.spencersretail.com

Overview

Location

Recognition and Award

References

Summary

Spencer's Retail Limited, together with its subsidiaries, engages in developing, conducting, investing, and promoting organized retail business in India. It operates departmental and neighborhood stores under various formats, as well as hypermarkets. The company offers products in various categories, such as groceries, fresh products, general merchandise, personal care products, apparel and accessories, consumer durables, and other lifestyle products. It provides its products under the own brands, including Smart Choice, Tasty Wonders, Clean Home, and Maroon, as well as under the various private brands, such as 2Bme, Healthy Alternatives, Hands on, and Inscapes. In addition, the company engages in the online retail business. As of March 31, 2022, it operated 154 stores. The company was formerly known as RP-SG Retail Limited and changed its name to Spencer's Retail Limited in December 2018. Spencer's Retail Limited was founded in 1863 and is headquartered in Kolkata, India.

History

Spencer's began operations as a retail chain in the early 1990s in Southern India.

Between 2006 and 2009, Spencer's brand expanded rapidly and at one point of time, had 300+ stores.

In 2008, Spencer's opened its largest store in India in the eastern Indian metropolis of Kolkata. The store spreads over 72,000 square feet and is located in the South City Mall.

During 2009 to 2016 it underwent consolidation by shutting down non-performing stores and the Company achieved break-even EBITDA by 2016. The strategy is profitable growth in chosen geographies.

In 2015, Spencer's acquired the online grocery store Meragrocer for an undisclosed amount. Spencer's has been strengthening omnichannel efforts since then.

The company launched a diversified private label program and has been focusing on increasing share of high margin categories.

The company achieved positive after tax profit for the year 2018-19

As of June 30, 2019, the total number of stores was 160 on a standalone basis. On July 4, 2019, Spencer Successfully Completed the acquisition of Nature's basket limited from Godrej Industries Ltd. The company claimed that the acquisition would help them give access in India's western markets with around 31 physical stores in major cities.

Mission

At Spencer's, our mission is to provide our customers with superior shopping experiences and exceptional value for money. We strive to make every shopping experience special, offering great value through our products and services.

Vision

Our vision is to be the leading retail brand in India and beyond. We aim to provide a superior shopping experience for our customers and to be the preferred destination for all their shopping needs.

Key Team

Mr. Aniruddha Banerjee (Chief Sales Officer)

Recognition and Awards

Spencer's Retail has won several accolades from the Indian retail industry, including the India Retail Forum Excellence Awards in 2013 and the Retailer of the Year Award from the Confederation of Indian Industry in 2010.