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Indian retail company Spencer’s to scale up its fashion business

Indian conglomerate RP-Sanjiv Goenka Group’s retail division, Spencer’s plans to expand its clothing business, ‘2Bme’ on a standalone basis. Currently, the brand has shop-in-shop existence at Spencer’s (39 hypermarkets) and will now have its own exclusive stores as well.

The objective is to give the fashion brand a separate identity. “We will look at expanding through stores at high-street and malls. Stores will be company-operated,” Goenka reportedly said, adding, “Once we get scale and a stronger footing for the brand, we may explore alternative formats like e-commerce presence and so on.”

Around 12 individual 2Bme stores will be opened in the next one year. The company has even roped in Bollywood actors Ranbir Kapoor and Shraddha Kapoor to promote the label.

Notably, 2Bme was launched in 2017 as an Indian fast-fashion brand.

In fiscal 2018, the fashion brand recorded a turnover of INR 100 crore. It is being said that 2Bme will earn INR 300 crore in revenue by FY 2021.

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