IndiaRetailBiz

Spencer’s Retail, among the country’s oldest and leading retailers, unveiled a new Shop-In-Shop (SIS) format Gourmet store in Kolkata on Thursday.

“In India there is a propensity for good food. It may not be a volume market but would be a niche market, which is expected to grow with time. This store would cater to a target audience that has a penchant for experimental food,” said Sanjiv Goenka, vice chairman, RPG Enterprises, while speaking on the occasion of inauguration of the new format store. RPG Enterprises is a Rs 150 billion diversified industrial and business conglomerate RPG (R P Goenka) group.

The 1,500 sq ft speciality gourmet SIS store is located inside the retailer’s 72,000 sq ft large flagship store in South City Mall of the metropolis.

The new format store offers a wide array of around 4,000 products comprising gourmet biscuits, breads, confectioneries, fresh fruits, vegetables, fruit juices, cheese, baby cereals, tea, coffee, chocolates, pastas, and essential ingredients for exotic cuisines of Thailand, China, Indonesia, Srilanka, America, Chile, France and Italy, among others. A ‘deli’ counter also offers different types of chilled and frozen ham, salamis and bacon, among other specialities.

There is a live kitchen area in the new format store as well. This area has been set up with a view to promote exotic recipes of gourmet food created by professional chefs.

Spencer’s Retail is planning to open six more such gourmet stores, among others, at Gurgaon, Bangalore and Mumbai, Hyderabad, and Chennai. Spencer’s has earmarked an investment of Rs.3 crore on this format during this financial year. The company is expecting to earn a revenue of Rs.4 crore from this initiave as the new SIS format store is expected to generate a per sq ft revenue of Rs 1,500.