Spencer's Retail exits western region; shuts flagship store in Inorbit Mall

Spencer's Retail, promoted by RP-Goenka Group, has shut its flagship store at Inorbit Mall at Malad, a Mumbai suburb. The hypermart format store spread across 40,000 square feet has ceased operations and the mall owners are currently awaiting the expiry of its lease agreement. The closure also means Spencer's has completely exited the western region for now.

A senior executive from Inorbit Malls India told dna that Spencer's was restructuring its business / operations and hence decided to shut down the store. "They wanted to resize and look at a smaller outlet probably at a different location. We haven't found a replacement yet and are exploring various options for the retail space that will get vacant in a few months from now," the executive said.

So will shutting down of Spencer's leave a vacuum in the mall's offerings to its customers? "Not really," said the executive adding, "we already have HyperCity in the vicinity that will cater to the requirements of people looking for related merchandise."

On the possible replacement(s), the executive said they have been turning down a lot of requests for housing retail brands in the mall and Spencer's vacating 40,000 sq ft gives them an opportunity to consider getting them on board while also enhancing their offerings. "We will now look at a combination of retail brands t0 be housed there," the executive said.