Mr. Samar Singh, VP Marketing of Spencers Retail said,
We are focused on our expansion plans by foraying into various sub-verticals. Livin Smart, the new furniture line is a business with high growth prospects, therefore it is important for us to have a presence in it.
Livin Smart is generating business of Rs 5 mn a month. It has around 500 SKUs and is sold through Spencer Hypermarket store which has a large part of it dedicated to this segment. Most of Livin Smart merchandise is sourced from China, Malaysia and Taiwan.
In a related development, Spencers is expected to achieve a sales of Rs 1,250 crore for FY09, a fourth of Pantaloon Retail India Ltd – India’s largest organized retailer.