RPG Retail owners of 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.
BHPC branded merchandise is already marketed through Spencers Hypermarkets at 9 locations in the country. Sensing the demand and opportunity, they decided to spin-off standalone stores. Spencers Executive said,
The investment in these stores will be around Rs 5,000 per sq ft [more or less in-line with other lifestyle chain]which is nearly three times than our current per sq ft investment. All the five stores will be operational by June. Once the standalone BHPC stores become operational, we plan to expand BHPC’s product portfolio in India. While currently menswear, women wear, accessories, watches and the sunglass range is available in India, we will expand into other products like perfume, shoe, belt and wallet.
Apart from BHPC, Spencers has a strategy to beat the current slowdown. Company has identified 13 growth centers [Hyderabad, coastal Andhra Pradesh, Chennai, Bangalore, West Bengal, NCR, East UP, Pune, Mumbai, Kerala, Aurangabad, Punjab and Jharkhand] where it will focus in opening more stores and consolidating its current operations. These centers have high adaptability for modern retail and hence the proposed investments.