V-Mart plans massive expansion, to invest Rs 300 crore to double store count

Value fashion retail chain V-Mart Retail is planning massive expansion across India and has earmarked an investment of Rs 300 crore for the same, said a top company official.
 
V-Mart plans massive expansion, to invest Rs 300 crore to double store count - V-Mart - Facebook

V-Mart will carry out the expansion in a phased manner and looks to touch 400 outlets over the next five years. The company will continue to strengthen its foothold in the tier II, tier III and tier IV cities.
 
V-Mart is expecting is revenue to jump three times to Rs 3,500 crore on the back of this massive expansion.  For the financial year 2017-18, V-Mart had reported a net profit of Rs 78 crore while its revenue stood at Rs 1, 227 crore.
 
"We plan to invest Rs 300 crore to more than double our store count to 400 stores. We are aiming to treble our turnover to Rs 3,500 crore," its chairman and managing director Lalit Agarwal was quoted as saying by news agency PTI.
 
"75 percent of our stores are located in just four states -- Uttar Pradesh, Uttarakhand, Jharkhand and Bihar. Consumption levels are much higher in the markets we operate in. These markets are under-served. We will continue to go deeper and focus on tier II, III and IV towns as we expand,” he added.
 
V-Mart is endorsed by Bollywood actors Ayushmann Khurrana and Bhumi Pednekar and currently operates about 180 outlets in 14 states in India.

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