RPG Group company Spencer's Retail announced that it eyes turnover from its 'specialty division' to augment five folds by 2013 to Rs 500 crore from the existing 100 crore.

To attain this objective, the company announced to invest over Rs 30 crore in 2010 to augment the number of stores across different brands in the subsisting locations, apart from entering into new towns in India.

Spencer's Retail President (Specialty Retail) K Dasaratharaman stated, "Our expectation is that the specialty division will increase five folds in turnover to Rs 500 crore in the next three years from Rs 100 crore now."

In 2009-10, Spencer's Retail recorded a turnover worth Rs 1,000 crore.

The company also eyes the 'specialty divison' to add in around 25% in its overall turnover by 2013.

Presently, the division contributes 10% to the company's turnover.

The 'specialty division' of the retailer includes Music World, international apparels brands, Beverly Hills Polo Club, Ladybird, Marc Ecko and cafe chain Au Bon Pain.

The company today also opened the first 'Marc Ecko' store in the capital and plans to have total four stores by the end of the year.

''We will have a total of four stores for Marc Ecko in India by the end of this fiscal,'' Mr Dasaratharaman said.

In addition, the company will add around 30-35 stores for the Beverly Hills Polo Club brand by the end of the fiscal in cities, including Pune, Ahmedabad and Baroda, to add to the existing 14 stores at present, he said. (With Inputs from Agencies)