Spencer’s Retail, a RP-Sanjiv Goenka group owned retailer, has launched its own apparel brand ‘2Bme’, catering to men, women and children. 2Bme has replaced Spencer’s private label, Island Monks and other garment brands, and will be the only available fashion brand that Spencer Retail will stock in its stores and will also follow a shop in shop format.
In the initial stages, 2Bme will be launched across around 37 hypermarket formats of the retailer and is expected to generate revenue of Rs 300 over the next three to four years.Spencer's Retail, a RP-Sanjiv Goenka group owned retailer, has launched its own apparel brand '2Bme', catering to men, women and children. 2Bme has replaced Spencer's private label, Island Monks and other garment brands, and will be the only available fashion brand that Spencer Retail will stock in its stores and will also follow a shop in shop format.#
“The focus on readymade garments, a high margin business is expected to help expand Spencer’s top-line and margins,” Goenka said at the launch of the brand.
Currently, Spencer’s draws 4 per cent of revenues from the fashion category, which will see the revenue share rise to 5 per cent within a year.
According to Goenka, depending on the traction of the brand, they may also spin-off 2Bme into a separate division, and will be sold outside of Spencer’s Retail stores in the near future. (AR)
ALCHEMPro News Desk – India
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