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V-Bazaar expects to make Rs 500 crore in revenue by 2020
17
Apr '17
Fashion and apparel retailer V-Bazaar Retail expects to earn Rs 500 crore in revenue by 2020 and plans to add as many as 45 new stores in tier II and III cities in India at an investment of Rs 75 to Rs 90 crore. V-Bazaar already has 14 stores in Bihar and Uttar Pradesh that earned Rs 44.8 crore in revenue during the financial year 2016-17.

The retailer will open new stores in Jharkhand, Gujarat, Uttarakhand and Rajasthan, besides Bihar and Uttar Pradesh, said the company in a statement.

V-Bazaar plans to take its store count to 56-57 by the end of fiscal 2019-20, said Hemant Agarwal, retail chairman and managing director, V-Bazaar.

The company is currently only focusing on tier II and III cities, added Agarwal.

Close to 40 per cent of the total revenue earned by V-Bazaar Retail comes from men's apparel, while womenswear and kids apparel contribute 25 per cent and 23 per cent, respectively.

Agarwal also said that close to Rs 2 crore will be invested in opening a single new store, which will come from internal accruals. (KD)

Fibre2Fashion News Desk – India


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