Kolkata: RPSG group retail venture Spencer’s Retail is still in talks with interested parties for a stake sale. “We shall take a call on this at an appropriate time,” Spencer’s chairman Shashwat Goenka told TOI.
RPSG has a 58.8% stake in Spencer’s Retail. The company has reported a revenue of Rs 2,180 crore in 2022-23.
Sanjiv Goenka’s son had earlier said in an interview that such a deal would be to raise funds and gain knowledge on best practices which would ultimately help consumers.
Spencer’s competes against the likes of Reliance Retail, Amazon-backed More Retail and e-grocer Big Basket. Reliance, Amazon and even Walmart-owned Flipkart are now trying to rope in kiranas for last-mile delivery. Goenka said that Spencer’s is exploring options to partner with Kiranas. “It could be last-mile delivery or selling of private brands,” he said.