Business

Spencer’s Retail ties up with Woolworths of U.K.

— PHOTO: PTI

JOY KNOWS NO BOUNDs: RPG Enterprise Vice-Chairman Sanjiv Goenka (second from left) and International Head of Woolworths of U.K., Simon Brown, share a lighter moment with children after inaugurating the first outlet of world-renowned toy brand Chand Valley in Kolkata on Saturday.

KOLKATA: Spencer’s Retail, which is part of the Rs. 13,500-crore RPG group, on Saturday tied up with Woolworths of the U.K. for marketing its Chad Valley range of toys. RPG Group Vice-Chairman Sanjiv Goenka said the range would be available from the Spencer’s stores, now located at 65 Indian cities.

The first Chad Valley store will be located at the Spencer’s South City Store here that covers a trading area of 72,000 sq. ft., offering 70,000 items.

Mr. Goenka said that stand-alone stores were also being looked at. The Indian toy market was huge given the fact that there were 160 million children below seven years (as per the 2001 census). There were another 190 million between seven and 14 years of age, he said.

Simon Brown, International Head of Woolworths, said that this was the company’s first big international tie-up in Asia. “We expect this to be a major success,” he said.

Mr. Goenka said Spencer’s, which was targetting a Rs. 2,000-crore sales turnover this fiscal, was the first to launch a hyper store in India (in Hyderabad) in 2000. Since then, it had increased its number of stores to 400 and would add 200 more this year. Woolworths is a U.K. retailer, focused on home, family and entertainment and has 850 stores in the U.K.

Mr. Goenka indicated that the group was exploring more such tie-ups and three more international retail tie-ups could be expected by end of the year.

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