India’s first and leading retailer RPG Spencer’s has turned its attention towards specialty retailing – MusicWorld [Music and home video and accessories], Books & Beyond [Books, Home Videos and Stationaries] and RPG Cellucom [Mobile Phones and Accessories].
The Music World chain is doing extremely well according to company sources as they have seen a growth rate of 14% YoY and they claim is above the industry average. This brand currently has 100 stores in 42 cities and 150 shop-in-shops. This chain had a turnover of Rs 100 crore for Fy07-08.
Mr. K.Das, President of Spencer’s Retail said,
We currently have 160 RPG Cellucom stores in 15 cities. With the focus on Tier-II cities now we target to take the total number of stores to 500 by the end of this financial year.
As far as Books & Beyond stores, the company currently has just 3 stores in Bengaluru, Kolkata and Gurgaon. They plan to add 7 more by the end of this fiscal taking tht total tally to 10. They are still testing the waters on how to make this brand more interesting and successful in the market.