Brands
Spencer’s to finalise e-commerce plan next fiscal, aims to increase private labels
KOLKATA: RP-Sanjiv Goenka Group’s Spencer’s Retail aims to finalise its e-commerce plan by April next fiscal (2015-16). Spencer’s Retail sector head Shashwat Goenka confirmed that prices at the brick and mortar stores and the e-commerce would be the same once the company offers the product online in April.
Additionally, Spencer’s Retail, a CESC subsidiary, also said that it has decided to augment and increase its private labels, mostly in food and apparels.
“We would freeze the e-commerce business model within next couple of months and implement it over a time period. We are likely to begin with a few categories of products for our on-line store,” Goenka said in Kolkata on Friday.
To make a differentiation and to cut down logistics cost, the company would depend on local sourcing more than pan-India collection. “In West Bengal, we are focusing on local food items including varieties of fish and rice,” he said.
It should be noted that within a short span of its operation, Spencer’s has become a family store since it offers regional flavours in the product vertical. “Spencer’s has decided to stress more on local sourcing and bring in regional flavours in the product baskets,” Goenka said.
Talking about the plans for apparel section, he said, “In the apparel segment, we are looking for a new sourcing point in Kerala. We have developed seven apparel brands including men’s, women’s, kids and sports wear.”
The retail chain is also looking to expand its chain but mainly through large-format in the range of above 25,000 square feet, said Goenka, explaining that all these efforts were geared to make Spencer’s profitable.
Speaking about the company’s expansion strategy, Goenka said that Spencer’s would focus on expanding in the eastern and southern markets of the country. “We would also be present in the north, particularly in Uttar Pradesh and the National Capital Region,” he said.
However, western region will continue to see a token presence in Gujarat.
In the next fiscal 2015-16, Spencer’s is looking at commanding a presence in 12 – 15 large format hyper stores, with a majority of stores being in the eastern and southern regions.
Currently, Spencer’s has around 125 stores in 36 cities including 33 hyper stores. The total store area now stands at over one million square-feet.
For expansion, Spencer’s would spend approximately Rs 3 -5 crore for each hyper store. When asked about the funding for expansion, Goenka said, “CESC, our parent company, would fund the projects.”
Brands
Hyundai launches updated Ioniq 5 with 84 kWh battery, 690 km range
Priced at Rs 55.7 lakh, adds design, tech and safety upgrades.
MUMBAI: Charge it up, stretch it out, Hyundai’s latest electric upgrade is going the distance, quite literally. Hyundai Motor India Limited (HMIL) has introduced an updated version of its Ioniq 5, packing in a larger 84.0 kWh battery that delivers a claimed range of up to 690 km (ARAI-certified), marking a significant leap in everyday usability for its flagship electric SUV.
Built on Hyundai’s Electric Global Modular Platform (E-GMP), the refreshed IONIQ 5 aims to balance performance with practicality, reducing range anxiety while making long-distance electric travel more viable. The upgrade builds on a model that has already secured global recognition, including the World Car of the Year title.
The changes aren’t just under the skin. On the outside, the SUV gets a sharper, more futuristic look with redesigned front and rear bumpers, new skid plates, sporty alloy wheels, a revised rear spoiler and updated V-garnish lighting, all while retaining its signature Parametric Pixel design.
Inside, Hyundai has focused on making the experience more intuitive. The cabin now features a redesigned three-spoke steering wheel with illuminated pixel elements, dual 12.3-inch displays, and a reworked wireless charging pad integrated with physical controls for seat functions small tweaks that aim to improve day-to-day usability.
On the tech front, the IONIQ 5 gets Hyundai’s Connected Car Navigation Cockpit (ccNC), Controller Over-the-Air (C-OTA) updates, and now supports wireless Android Auto and Apple CarPlay. New additions such as Active Sound Design and in-car payment integration for EV charging reflect a push towards a more seamless, connected ownership experience. Remote immobilisation via Bluelink has also been introduced as an added security layer.
Safety sees incremental upgrades too, with features like Parking Collision-Avoidance Assist (Rear) and side parking distance warnings enhancing manoeuvrability in tight urban spaces.
The updated IONIQ 5 is available in four colour options Gravity Gold Matte, Midnight Black Pearl, Titan Grey and Optic White with an Obsidian Black interior theme.
Priced at Rs 55.7 lakh (ex-showroom), the new IONIQ 5 positions itself as a more rounded offering, less about futuristic promise, and more about making electric mobility fit seamlessly into everyday life.
