Aditya Birla group takes 25% stake in V Mart
22
Jul '08
Jul '08
V Mart Retail Pvt Ltd, a value chain that is largely spread over Northern and Western India, has recently sold a 25 percent stake for an undisclosed sum to Naman Investments, a private equity arm of Aditya Birla Group. V Mart has taken this step for funding its expansion plan and gain expert guidance and support from the AB Group.
V Mart is into retailing of garments and footwear and has approximately 26 stores across the country and aims to launch nearly 100 new outlets within two years. The retailer plans to closely follow the policies on merchandising, logistics and store management that are followed by Aditya Group.
Operating through a chain of mid-size value retail stores in the area ranging from 6000 to 12000 square feet, V Mart mainly focuses on Tier II and III cities. Catering to the middle and lower-middle segment of the society, the retailer has concentrated on the thriving apparel business.
V Mart registered a turnover of approximately Rs1 billion in 2007 and aspires to achieve a growth of 50 percent this year. Launched in 2004, the company is growing at an annual scorching pace of 40 percent.
After the success of V Mart, the Company opened V Galz stores, a fashion studio exclusively for women, which houses stylish garments and accessories. V Galz targets the fashion savvy girls by providing trendy outfits at reasonable prices.
The diversified Aditya Birla Group also operates in two retail chains, one in South-India based Trinethra, which it acquired in 2006 and the other More, which was launched in 2007.
V Mart is into retailing of garments and footwear and has approximately 26 stores across the country and aims to launch nearly 100 new outlets within two years. The retailer plans to closely follow the policies on merchandising, logistics and store management that are followed by Aditya Group.
Operating through a chain of mid-size value retail stores in the area ranging from 6000 to 12000 square feet, V Mart mainly focuses on Tier II and III cities. Catering to the middle and lower-middle segment of the society, the retailer has concentrated on the thriving apparel business.
V Mart registered a turnover of approximately Rs1 billion in 2007 and aspires to achieve a growth of 50 percent this year. Launched in 2004, the company is growing at an annual scorching pace of 40 percent.
After the success of V Mart, the Company opened V Galz stores, a fashion studio exclusively for women, which houses stylish garments and accessories. V Galz targets the fashion savvy girls by providing trendy outfits at reasonable prices.
The diversified Aditya Birla Group also operates in two retail chains, one in South-India based Trinethra, which it acquired in 2006 and the other More, which was launched in 2007.
Must ReadView All
Textiles | On 13th Dec 2018
NCTO endorses USMCA; to lobby Congress to adopt agreement
The National Council of Textile Organisations (NCTO) board of...
Apparel/Garments | On 13th Dec 2018
12 Asian garment firms to operate in Haiti by mid-2019
At least a dozen Asian garment manufacturing companies will start...
Textiles | On 13th Dec 2018
Pakistan evolving export-oriented policies: top official
Pakistan is evolving export-oriented policies and is committed to...
Interviews View All
C. Dhandayuthapani
Mag Solvics Pvt. Ltd
ITME 2016 exploited our full strength like never before
Divyesh Mashruwala
Akshar Industries
Surat dominates foiling, embossing and pleating
Claudia Kersten
Global Organic Textile Standard
‘GOTS is a very efficient supply chain management tool, especially for...
For.Tex is an Italy-based leading producer of dyes and thickeners, and is...
Leading the transformation of the textiles industry with disruptive...
No Nasties was the first fashion brand in India to make 100 per cent...
Melissa Tate
University of New South Wales
<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...
Robert Erichsen
Statex Produktions & Vertriebs GmbH
Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...
Razvan Popescu
Directa Plus SpA
Directa Plus is one of the largest producers and suppliers worldwide of...
Sandeep and Sarah Shaikh Gonsalves
SS Homme
SS Homme celebrates the craft of traditional tailoring through the bespoke ...
Samar Firdos
Arvind Ltd
<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...
Hemant & Nandita
Hemant & Nandita
The designer duo of Hemant & Nandita are known for being inspired by...
Leave your Comments
Recommended
Want to know what happened in the textile world this week? Watch now!
news category
Related Categories:
