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April 27, 2001
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Money > Business Headlines > Report April 27, 2001 |
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RPG to enter foods market via Spencer's
Partha Ghosh The RPG group is finalising plans to foray into the packaged food and beverages segment through its retail brand Spencer's. Sanjeev Goenka, vice-chairman of RPG Enterprises, said: "We are reviving the Spencer's brand. In a week, we are likely to finalise a plan on packaged food products such as ketchup, jams, jellies, etc." He said the branding exercise for the products has been completed and that negotiations with contract manufacturers in the small scale sector for outsourcing the food products were on. Goenka said, "We are talking to small-scale units who manufacture products for companies such as Hindustan Lever and Nestle." The business will be undertaken by Spencer & Co, a subsidiary of RPG Enterprises, which has interests in retail and travel businesses. Goenka said the food products will be outsourced and initially sold exclusively through the FoodWorld retail channel, a grocery chain run by FoodWorld Supermarket Ltd. He said, "Depending on the success of the products at the retail end, we may think of pushing our packaged goods into the mass retail channel." Spencer & Co and Dairy Farm International, of Mauritius, have recently set up a joint venture -- Great Wholesale Club Ltd -- for setting up a chain of cash-and-carry stores, also called hypermarkets, across the country. The first such hypermarket will be inaugurated in Hyderabad shortly. RPG Enterprises has also restructured its retail and entertainment businesses by splitting them under separate heads. The entertainment business comprises Saregama India (formerly Gramophone Company), Saregama Plc, RPG Global Music and HamaraCD Inc. The retail business includes FoodWorld, MusicWorld, Health & Glow and Great Wholesale Club. Powered by YOU MAY ALSO WANT TO READ:
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