RPG Group company Spencer’s Retail is ready to relocate itself as an exclusive brand with improved focus on fashion, food and home decor.

Moreover, the company would invest around Rs 1,500 crore in order to open 250 new retail outlets across India within the next 12 months.

At present, the company runs 400 stores in 65 Indian cities under different formats that include supermarkets, hypermarkets, dailies and express.

At the launch of the two new hyper stores at Ghaziabad and Gurgaon on Friday, Sanjiv Goenka, RPG Enterprises vice-chairman said, “Fashion is a significant segment of the country’s retail industry as it has influenced lifestyle in a big way. With consumers’ new look-good and feel-good attitude, fashion offers huge potential to tap the untouched markets.”

The company is also making discussions with different international retail players to set up joint ventures across different groups in the country.

Besides, it is targeting a turnover of Rs 1,800 crore by end of the current fiscal.

Spencer’s new stores will retail a broad variety of formal wear, casual wear, evening wear and sport wear for men, women and children.

The company would also offer a separate attire collection under its private brands that include Mark Nicolas, Notting Hill, Island Monks and Asankhya introduced recently.

Additionally, a range of products would be made available across food and non-food categories apart from latest electronic gadgets, gizmos, homecare and home-decor items.

On the investment plans, Mr. Goenka said, “We would invest Rs 1,500 crore across different formats within a year to open additional 250 stores. The company’s total retail space would go up to 22.5 lakh sq ft by March 2009.”