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Indian apparel retailer V Mart reports Q4 FY21 income of ₹356 cr
17 Jun 21 2 min read
V Mart Retail, India's leading retail store chain offering fashion apparel and footwear, has reported increase in its total income to ₹356 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to ₹333 crore in the corresponding period of prior fiscal. The company’s EBITDA for Q4 FY21 was ₹34 crore (Q4 FY20: ₹28 crore).
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“Notwithstanding the pandemic, we did reasonably well in Q4. The business prepped up quickly. The company secured 110 per cent of the corresponding sales for the same quarter of FY'20-'21. We managed to achieve footfall recovery of over 80 per cent for the quarter as a whole. We are also well poised as far as inventory levels and freshness is concerned, with strong sales without much discounting,” Lalit Agarwal, CMD at V Mart, said in a press release.
“V-Mart is concentrating on quicker mind-to-market strategies as far as fashionable apparels are concerned. For instance, our range of streetwear, sweatshirts, hoodies, and top-of-the-line ladies’ dresses. This is being done to meet the rising aspirations of the youth and younger families,” Agarwal added.
During the quarter, the company continued to embark on achieving its strategic transformation objectives, including digitisation and strengthening across the front-end and back-end operations with agility, prudence and customer centricity.
“We are in the process of revitalising the omni platform by creative and compelling products and shopping experience as it could offer a tremendous boost to our overall sales going forward. Our internal team is working on improving the website and mobile app interface for a better customer experience,” Agarwal said in the release.
Fibre2Fashion News Desk (JL)
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