Spencer Retail has tied up with UK’s Woolworth for further expansion of retail business. Spencer Retail is part of the Rs 13,500 - crore RPG Enterprises. Talking about the agreement Sanjiv Goenka, the vice-chairman of the company, said that this is first among many other tie-ups to be done in near future. Woolworth of UK owns the world-known toy brand ‘Chad Valley.’Simon Brown of Woolworth said that while large-format stores were there principle focus, two standalone stores are also in the plan in next one year or more.

 

Simon Brown further added that he has been looking into the Indian market for last three-four years before entering into it. He expects 50-60% growth. He said that Woolworth is planning to generate much business in India as in the UK where its sales are roughly $5 million. On the other hand, Sanjiv Goenka of Spencer disclosed his planning for further expansion and said that he plans to enter at least three more tie-ups within few months.

 

Mr Goenka told media that Woolworth’s Ladybird range of kid’s clothing is likely to be introduced next in line in India by September, as part of its tie-up with Spencer’s.  Putting statistical data Mr Goenka said that in 2001 census out of 1 billion Indians, 16% were children below 7 years, while another 19% were in the 7-14-year range. He expects a huge market for children brands in India.