Multi-brand retail chain V-Mart is on an expansion mode. It will turn its focus on eastern states with plans to open stores in Jharkhand and Odisha next fiscal to take the number of its outlets to 150.
V-Mart currently operates 123 stores across 106 cities in 14 states and union territories, and is focusing on Tier-II and -III towns for opening stores in the next fiscal.
"We will have up to 150 stores by the end of FY2016-17. We will add around 27 stores in states such as Uttar Pradesh, Jharkhand, Bihar, Odisha and West Bengal," V-Mart Chairman and Managing Director Lalit Agarwal told PTI.
V-Mart also has plans to increase its footprints in Jammu and Kashmir with two more stores in Jammu and Udhampur. The company now has a single store in Srinagar in the state.
V-Mart had a revenue of Rs 720.50 crore in FY2014-15. (SH)
Fibre2Fashion News Desk – India