Spencer’s wins the Most Admired Food & Grocery Retailer of the Year at the Food Forum of India'09

March 23, 2009 - PRLog -- Spencer’s Retail Limited, one of India’s largest food first multi-format retailer, has been awarded the Coca Cola Golden Spoon “Most Admired Food & Grocery Retailer for Convenience and Express formats” Award at the Food Forum of India, 2009 held in Mumbai. Spencer’s is the pioneer in organized food retailing in India. It started operations way back in the early 90’s in the South (HQ. Chennai) and over the last year and a half, it has ramped up operations to about 350 stores across 60 cities in India. Spencer’s currently straddles two different types of formats garnering footfalls of approx. 4.5 million per month.

Speaking on the occasion, Vineet Kapila, President, Spencer’s Retail Limited, said, “ Its an honor to be conferred the most admired retailer in food and grocery segment. Food and Grocery has been our primary focus since the very beginning and our understanding of the taste and flavors of various communities across the country has given us the competitive edge over other retailers in India. The award is also a testimony to our brand proposition “Taste-the-World” which ascertains our continued focus of being “foods-intensive”, yet alluding to the good taste of the discerning shopper.  It is an invitation to a shopping experience which is truly world-class in terms of assortment, innovation, quality and store ambience”.

Vineet also added, “Awards mean a lot, but they don’t say it all. The people of this organization mean more to us than the statistics and the no of feathers we are adding to our cap. Even during depressed market sentiments, it is the unshakeable commitment of the people which got this recognition for us. I salute their resolve and am confident that they will continue their endeavor to deliver the best retail experience to our consumers.”

This is the third award that the organization has received, three years in a row. Spencer’s was awarded the Turnaround Retailer of the year 2006 at the India Retailers Forum, 2007 in Mumbai. And Most Evolved Retailer of the year 2007 at the India Retail Forum, 2008.

About the Award
Coca-Cola Golden Spoon Awards 2009 are designed to highlight & reward excellence across the key segments of Food & Beverages and Food & Grocery retail in India. The decision making on the final awardees is based on a comprehensive representation of all key stakeholders in the industry to ensure that all the key parties have a say in the decision making.

A robust and exhaustive process will be followed involving 1000+ interviews amongst consumers and industry professionals in the business of Food and Grocery, Food and Beverages.

An extensive secondary data search was conducted and leading and aspiring food & Grocery and food and beverages retailers were invited to send in self nomination forms which included information in the areas of retail presence through different channels, location, Total Floor Area, and Total Annual Sales Turnover, Innovations and future plans.

Shortlisting was done basis their popularity amongst the consumers, mentions from industry professionals, experts view and financial parameters such as sales and profit growths and retail coverage plans over the last year.

The final list of shortlisted nominees with their performance analysis sheet was presented to an eminent jury comprising leading industry professionals for expert evaluation, who decided on the winners.

About Spencer’s Retail Limited
Spencer’s Retail Limited, part of the Rs 13,500 crores RPG group, is a multi-format food-first retailer providing the widest range and assortment of products to its key consumer segment of female, SEC A in the age group of 25 – 34. The organization runs 350 stores, including about 35 large format stores across 60 cities in India, focusing on verticals like food and grocery, fruit and vegetables, electrical and electronics, home and office essentials, garments and fashion accessories, toys, food and personal care, music, books and mobility solutions, the later three forming part of specialty retail division.

Spencers is one of the earliest entrants into the retail space and literally introduced the Indian consumer to the concept of organized retailing. In fact, the first ever hyper store in India was launched by Spencers at Hyderabad in the year 2000. The journey onwards has been one of the most aggressive of all the retail players in India. In the last financial year, Spencers increased their stores from 150 to 350 with a target of expanding by 400 more in the next two years. It employs over 10000 professionals who are specially trained to live up to the consumer needs and the business objectives of the organization. Spencers is on a high growth path with a target of Rs. 1250 crores sales turnover by the end of the current financial year.

Spencer’s was awarded the Turnaround Retailer of the year 2006 at the India Retailers Forum, 2007 in Mumbai. And Most Evolved Retailer of the year 2007 at the India Retail Forum, 2008.

About RPG Enterprises
RPG Enterprises us one of India’s leading business groups with a turnover of Rs 13,500 crore. RPG Enterprises has presence in sectors like Power, Tyres, Retail, IT, Transmission, Carbon Black, Specialty & Entertainment.
Media Contact:
Shakuntala Sarkar, Manager, Corporate Communications
Email: s_sarkar@spencersretail.com
Mob: + 91 97487 73132

Malini Chakraborty
Email: malini_chakraborty@greyindia.com
PH# 9831111609

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