Spencer’s, the retailing arm of RPG Enterprises, has joined hands with the UK-based retail chain Woolworth’s Plc to retail the latter’s Chad Valley brand of toys in India.
Announcing plans to the media, Sanjiv Goenka, vice chairman, RPG Enterprises, said: “This is our first tie-up announcement. We will have another three tie-ups with international majors during the current year.”
Citing reasons for venturing in the toys segment, Goenka said, “According to the 2001 census, there were 16 million children aged below seven years, and another 19 million are 7-14 years old, which is an untapped market. We are focusing on this niche segment.”
“This is the first tie-up for Chad Valley toys in Asia, and we are looking at around 15 stores in the next five years,” declared Simon Brown, international head, Woolworth’s.
Brown further informed that besides marketing at the Spencer’s store, both the companies are planning to open standalone stores where Spencer’s will have greater stake.
Speaking about their expected revenues, Brown said, “We are looking at around 50 per cent year-on-year growth in India through the large chain of Spencer’s, which has about 400 stores across the country.”
