India-based supermarket chain Spencer's Retail plans to open 80 large format stores by 2017 across the country with an investment of INR6bn ($105.8m).
As part of the plan, the chain has unveiled its first Spencer's Hyper store at Velachery, Chennai.
The chain is mainly focusing on north (Uttar Pradesh & the Delhi-National Capital Region), the East (West Bengal and Chhattisgarh) and the South (Andhra Pradesh, Tamil Nadu and Karnataka).
Spencer's Retail chief executive Mohit Kampani told The Economic Times that the company intends to open 12 large format outlets in 2013 alone.
"Currently, we have 26 stores. This is our 27th store. We are planning to open around 80 large format stores in a four year period," Kampani added.
Each store will stock 14,000 products across various categories.
"About 50 per cent sales comes from South, followed by East at 25 per cent and the remaining is from North and West (regions)", Kampani told the publication.
