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India's V-Mart plans to double store count; treble turnover
16
Jun '18
India
Indian value fashion and lifestyle retailer V-Mart Retail plans to treble its turnover to ₹3,500 crore and double its store count in the next five years by investing ₹300 crore, according to chairman and managing director Lalit Agarwal. It currently operates about 180 outlets, primarily in tier II, tier III and tier IV cities across 14 states in India.

V-Mart will fund the expansion through internal accruals, Agarwal said. In 2017-18, the company had reported a revenue of over ₹ 1,200 crore, according to a news agency report.

Three-fourths of V-Mart stores are located in four states — Uttar Pradesh, Uttarakhand, Jharkhand and Bihar.

V-Mart, whose sole distribution centre is located near Gurgaon in Haryana to service all its stores, has also roped in a consultant to understand whether it requires another distribution centre when it expands its operations. (DS)

Fibre2Fashion News Desk – India


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