Spencer's is back. The 100-year-old brand name, which evoked fond memories for so many generations of shoppers in erstwhile Madras, is the new name for RPG's hypermarket stores.
RPG Retail decided to launch the Spencer's Hypermarket brand six months back and the first Spencer's opened in Visakhapatnam last year in association with Phoenix Logistics Pvt Ltd.
The other two stores, located in Hyderabad and Mumbai, known as Giant Hypermarket changed their name to Spencer's last week. Great Wholesale Club Ltd, a subsidiary of Spencer & Co, runs the Giant Hypermarket.
According to a press release, RPG Retail has been constantly evaluating the brand's recall and associations. A recent study showed that the Spencer's brand had an 80 per cent recall and an association of `value for money' amongst 96 per cent of the respondents.
In view of RPG's expansion plans for large format stores, as also keeping in mind possibilities of an overseas expansion, Spencer's Hypermarket has been launched as a brand.
The expansion plans would be in line with the 100-year-old legacy of Spencer's, which at one point of time had stores from Rawalpindi to erstwhile Calcutta.
Mr Raghu Pillai, President and Chief Executive, Retail Sector, RPG Enterprises, said that this would have significant strategic value in the long-term plans of RPG Retail.