Lighthouse Advisors India Pvt Ltd, focused on growth investments in India's consumer sector, recently announced that funds affiliated with the firm have invested Rs 760 million in V2 Retail Ltd, a pure play apparel value retailer with a focus on tier II and tier III Indian cities. The investment will be used to accelerate V2 Retail's store expansion plans.
V2 Retail has 44 stores across 13 states in India and targets reaching a store count of 100 in the next two to three years, according to a Lighthouse press release.Lighthouse Advisors India Pvt Ltd, focused on growth investments in India's consumer sector, recently announced that funds affiliated with the firm have invested Rs 760 million in V2 Retail Ltd, a pure play apparel value retailer with a focus on tier II and tier III Indian cities. The investment will be used to accelerate V2 Retail's store expansion plans.#
The company wants to penetrate further into its significantly under-penetrated core markets, such as Bihar and Uttar Pradesh, due to a large number of high potential Tier II and III cities, according to V2 Retail chairman and managing director Ram Chandra Agarwal.
India has added more than 400 million middle-class consumers over the past 15 years who are driving consumerism in India and V2 Retail is well positioned to cater to this aspiration, said Sachin Bhartiya, partner, Lighthouse Advisors. (DS)
Fibre2Fashion News Desk – India
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