OMNIPRESENT GROCER

With Shashwat Goenka, Chairman, Spencer's Retail and Nature's Basket, stepping into the shoes of his illustrious father, he first dips his toe into the bludgeoning luxury and premium grocery market of India, eyeing a Rs 300 crore pie in 2024!

- VAISHNAVI GUPTA

In a graceful transition of leadership within the esteemed RP-Sanjiv Goenka Group, Shashwat Goenka assumed the pivotal role of Chairman at Spencer's Retail and Nature's Basket, a leading multi-format retailer under the conglomerate's umbrella in 2023. With this appointment, the heir apparent, Shashwat, stepped into the shoes of his father, Sanjiv Goenka, who stepped down from his position as Chairman and Director of the company.

This momentous decision underscored the meticulous succession planning undertaken by the organization. Given Shashwat's decade-long dedication to steering Spencer's towards excellence, coupled with his role as an Executive Director since November 2018, the board's choice to entrust him with the chairmanship was both a natural progression and a vote of confidence in his leadership acumen. Moreover, his multifaceted role within the RP-Sanjiv Goenka Group, including his positions on the boards of several listed companies, attested to his long-term astute business acumen and leadership prowess.

As Spencer's Retail embarks on a new and refreshed chapter under Shashwat's leadership, the company remains committed to delivering exceptional value to its customers and stakeholders. With a visionary approach and unwavering dedication, Shashwat Goenka is poised to lead Spencer's Retail to even greater heights of success in the dynamic retail landscape, beginning with the reinvigoration of the Nature's Basket brand.

In Focus: Nature's Basket: Retail has always been a core part of RP Sanjiv Goenka Group, and this led to the acquisition of Nature's Basket in 2019 from Godrej Industries for Rs 300 crore. With Nature's Basket, the group's flagship retailing arm, Spencer's, got an entry into the premium grocery segment.