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NEW DELHI: RPG Group company Spencer's Retail today said it expects turnover from its specialty division to increase five folds in the next three years and touch Rs 500 crore."Our expectation is that the specialty division will increase five folds in turnover to Rs 500 crore in the next three years from Rs 100 crore now," Spencer's Retail President (Specialty Retail) K Dasaratharaman told reporters here.
With that the contribution of the specialty division to the overall turnover of Spencer's Retail will increase to up to 25 per cent in the next three years from 10 per cent at present, he added. Last fiscal Spencer's Retail had a turnover of Rs 1,000 crore.
The specialty division of the retailer includes Music World, international apparels brands, Beverly Hills Polo Club, Ladybird, Marc Ecko and cafe chain Au Bon Pain.
As part of plans to achieve its target, the company will be investing about Rs 30 crore this year to increase number of stores across brands in the existing locations and entering new cities in India.
"We will have a total of four stores for Marc Ecko in India by the end of this fiscal," Dasaratharaman said, while opening the first store of the brand here.
Besides, the company will add 30-35 stores for the Beverly Hills Polo Club brand by the end of the fiscal in cities, including Pune, Ahmedabad and Baroda, to add to the existing 14 stores at present, he said.
"For the Ladybird, at present we have outlets only at Spencer Hypermarkets. In a couple of month's time we plan to open 4-5 stand alone stores," Dasaratharaman said.
As for the cafe chain Au Bon Pain, he said the company will first focus on expanding it in Bangalore where it currently has three outlets.
"We plan ten more Au Bon Pain outlets in Bangalore then we will expand to the other parts of India," he said.
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