Technoglitch
Core Member
Spencer’s Retail Ltd, part of the RP-Sanjiv Goenka Group, on Wednesday announced the acquisition of Omnipresent Retail India Pvt. Ltd, which runs the grocery website meragrocer.com. 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 rollout. The back-end integration is expected to take around two months, according to 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.
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. Also, 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.
Spencer’s steps into online retail with meragrocer.com acquisition - Livemint
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 rollout. The back-end integration is expected to take around two months, according to 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.
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. Also, 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.
Spencer’s steps into online retail with meragrocer.com acquisition - Livemint
