RPG to invest Rs 250-300 cr in small retail chains
The RPG Group, which is investing Rs 1,000 crore in its flagship retail venture Spencer's, will pump in another Rs 250-300 crore for smaller retail businesses such as RPG Cellucom, Music World and Books and Beyond.
"Presently, we have 50 outlets (of RPG Cellucom) and we intend to enhance this to 500 by end of this fiscal," RPG Enterprises Chairman Harsh Goenka told PTI in Mumbai.
RPG Cellucom outlets retail the entire range of mobile phones. It also keeps laptops and accessories.
On Music World, which presently has 280 customer touch points, Goenka said "since the industry has matured, we are not expanding aggressively".
This chain will be grown in a small way, "about 10-20 per cent" Goenka said, adding Music World outlets retail items such as Ipods, DVDs, WordSpace and accessories.
RPG's retail chain for books - Books and Beyond - will have a network of eight by this year-end and apart from books it will also retail DVDs and music, Goenka said.
The group is buoyant on its music business conducted under Sa Re Ga Ma brand, which Goenka described as a "custodian of Indian heritage" and which produces 72 per cent of the country's music.