Home / Knowledge / News / Fashion / V-Mart revenue up 22% to ₹12,224 mn in 2017-18
V-Mart revenue up 22% to ₹12,224 mn in 2017-18
26
May '18
Courtesy: V-Mart
Courtesy: V-Mart
V-Mart has reported an increase in revenue from operations by 22 per cent to ₹12,224 million for financial year 2017-18. For the fourth quarter of fiscal 2018, the revenue grew by 18 per cent to ₹ 2,974 million. V-Mart has recorded record profits for the year, on the back of continued focus on fashion led growth for aspiring tier 2 and 3 consumers.

The retail market showed good growth which was supported by strong marketing efforts. The company went in for store refurbishments apart from improving the merchandising and technology led supply chain apart from rejuvenating the consumer pull using multiple marketing initiatives. The cumulative effects of these efforts and new product range reflected in the buoyant results, a V-Mart press release said.

The company opened 5 new stores during the quarter out of which 4 were in Uttar Pradesh (UP) and 1 in Bihar, taking the total store count to 171 stores.

"Customers tastes are evolving and we bring in international fashion and cutting edge technology with the support of our Indian partners. We keep on introducing new collections for various occasions like festivals, marriages, seasonal change and other related occasions. Our focus on fashion and comfort has helped us increasing footfall into our stores. We have introduced new incentive policies to motivate our staff at store level," Lalit Agarwal, CMD, V-Mart Retail Ltd. said.

The company has also recently been awarded a skill development project under DDU GKY, a UP government and central government initiative, to impart skills and generate employment opportunities for the youth. As part of the project, the company has been entrusted to select, train and provide employment to 1800 youth over a period of 3 years. The company has already setup a skill development centre in the state of UP to facilitate the same. This will allow the company to source trained manpower for its upcoming expansion plans, the press release added. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Businesswire/PrimaLoft

Textiles | On 18th Nov 2018

PrimaLoft unveils PrimaLoft Bio Performance Fabric

PrimaLoft, a leader in advanced material technology, has unveiled...

Higher sales and earnings at Macy's in Q3FY18

Fashion | On 18th Nov 2018

Higher sales and earnings at Macy's in Q3FY18

Higher sales and earnings were recorded at Macy’s, one of the premier ...

Courtesy: Amazon

Apparel/Garments | On 18th Nov 2018

Amazon's new headquarters in New York City, Arlington

Amazon is setting up two new headquarters, one in New York City and...

Interviews View All

Amrit Sethia, SOIE

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search