| "The group remains committed to all arms of its retail business and has no plans to exit from any ", the sources said. |
| The group also said any change in the top management of its retail business, currently headed by Raghu Pillai, was not on the cards. |
| Pillai could not contacted for his comment. |
| "Investment decisions in the retail business will be governed by best returns but all the arms are doing well", said the source. |
| The RPG group had indicated in the past that the IPO would be done only after the different arms of the business like the Giant large store chain, or MusicWorld entertainment retail business and the Foodworld chain were restructured into an entity that would fetch the best price in the market. |
| This could entail either buying out existing investors in the diverse retail business or working with them to acheive better pricing for the IPO, though the source refused to comment on this. |
| For example, RPG owns Spencers, a brand option was always on the table from day one for its retail business. |
| However, it developed a brand like "Giant" to draw attention to the large size of store that business offered. |
| "Giant stood for dominace, killer promotions and offers, value for money, guaranteed no questions asked return policy and a great shopping experience", according to group sources. |
| The aim now is to use the Spencers brand to deliver more of the same and add a significant "fun" element to this through a strategy to deliver it to the customer. |
| The group had seen its large format stores delivering growth in excess of 30 per cent per annum and expects to go from a two store base at present in two cities today to a 15-plus store base across 10 cities. |
| "RPG expects the growth to be exponential", according to the group. |
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