Sai Jai
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Spencer’s Retail Ltd. has made a foray
into the e-commerce space through
the acquisition of Omnipresent Retail
India Pvt., a Gurgaon-based company,
which owns meragrocer.com.
The amount of the buyout, funded
through debt and equity, was not
disclosed by the company.
“This marks our first step in e-
commerce business and is a perfect-
fit,” Shashwat Goenka, Sector Head,
Spencer’s Retail Ltd., said.
Meragrocer has a Rs. five crore annual
turnover, delivering grocery to
consumers in Gurgaon and Delhi. “It is
a scalable model and will allow
Spencer’s to expand quickly in the e-
commerce space. We expect it to help
Spencer’s achieving break-even,” Mr.
Goenka said.
Spencer’s wide assortment of products
should be the biggest allure, he said.
“We will start with grocery and then
gradually scale up to home ware,
electronics and apparel. Read more @: Spencer’s steps into online retail through acquisition: The Hindu - Mobile edition
into the e-commerce space through
the acquisition of Omnipresent Retail
India Pvt., a Gurgaon-based company,
which owns meragrocer.com.
The amount of the buyout, funded
through debt and equity, was not
disclosed by the company.
“This marks our first step in e-
commerce business and is a perfect-
fit,” Shashwat Goenka, Sector Head,
Spencer’s Retail Ltd., said.
Meragrocer has a Rs. five crore annual
turnover, delivering grocery to
consumers in Gurgaon and Delhi. “It is
a scalable model and will allow
Spencer’s to expand quickly in the e-
commerce space. We expect it to help
Spencer’s achieving break-even,” Mr.
Goenka said.
Spencer’s wide assortment of products
should be the biggest allure, he said.
“We will start with grocery and then
gradually scale up to home ware,
electronics and apparel. Read more @: Spencer’s steps into online retail through acquisition: The Hindu - Mobile edition
