V-Bazaar targets ₹750 cr turnover by 2021 with 120 stores
August 20, 2019 - India
Relying on sales network expansion, Indian fashion and apparel retailer V-Bazaar Retail is targeting a more-than-three-fold rise in its turnover, expecting that to reach ₹750 crore by 2021. It aims to add around 60-65 more stores, taking the total count to over 120 in the next two years, according to chairman and managing director Hemant Agarwal.
The company, which operates in Uttar Pradesh, Bihar, Jharkhand and Madhya Pradesh, plans to enter Odisha, Delhi national capital region, Uttrakhand and Assam, according to a news agency report.
The company had a revenue of ₹220 crore in FY 2018-2019, a company statement said, adding the store expansion would be funded majorly through its internal accruals and infusion of funds from the promoters.
At present, 40 per cent of the V-Bazaar Retail revenue comes from men apparel, 23 per cent from ladies apparel, 25 per cent from kids apparel and 12 per cent from general merchandise. (DS)