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Spencer’s forays into online retail with meragrocer acquisition

  • Spencer’s Retail Ltd,
    part of the RP-Sanjiv Goenka Group, has announced the acquisition of
    Omnipresent Retail India Pvt Ltd, which runs the grocery website
    meragrocer.com, reported the
    Mint.
  •  
  • The company did not
    • Spencer’s Retail Ltd,
      part of the RP-Sanjiv Goenka Group, has announced the acquisition of
      Omnipresent Retail India Pvt Ltd, which runs the grocery website
      meragrocer.com, reported the
      Mint.
    •  
    • The company did not
      disclose the size of the deal.
    •  
    • The online grocery,
      which currently operates in Gurgaon and some neighbourhoods of Delhi, will be integrated with Spencer’s
      brick-and-mortar operations before a national roll-out. The back-end
      integration is expected to take around two months, said Shashwat Goenka, group
      chairman Sanjiv Goenka’s son, who runs the retail business.
    •  
    • He said he expects
      the company’s online gross merchandise value to touch Rs 500 crore in five
      years. For the past few months, Spencer’s has been internally developing an
      e-commerce platform when the opportunity to acquire meragrocer.com emerged, the
      report said.
    •  
    • Though meragrocer is
      small with sales worth only Rs 5 crore a year, Spencer’s decided to buy it
      because of its robust information technology (IT) platform, Shashwat Goenka
      said. It would have been more expensive to build the online platform ground up
      and it could have taken up to 18 months to integrate a new site, he added.
    •  
    • A wholly-owned
      subsidiary of RP-Sanjiv Goenka Group’s flagship CESC Ltd, Spencer’s is gearing
      up for its maiden public offering of shares.

     

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