Published
Aug 23, 2018
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V-Mart to enter new markets, open 35 stores this fiscal

Published
Aug 23, 2018

Fashion retailer V-Mart will be expanding its retail presence across the country by adding 35 stores before the end of the current financial year. The company will enter new markets and also strengthen its presence in the northeast region of India.
 

V-Mart to enter new markets, open 35 stores this fiscal - V-Mart - Facebook


V-Mart will add four stores in Assam and two in Arunachal Pradesh and Meghalaya in the coming months.
 
"Last fiscal, we had opened 31 stores and this year, we are targeting to open 35 stores and we would cross 200 mark. Total investment in opening a new store is around Rs two crore," V-Mart Retail CMD Lalit Agarwal told PTI.

"We have plans for at least 20 stores across the seven states in North East in next two years. The stores in the northeast will primarily have apparels and fashion clothes," Agarwal added.
 
V-Mart witnessed an 11 percent surge in net profit to Rs 25 crore ($3.6 million) for the first quarter with net sales of Rs 362 crore.
 
V-Mart is expected to pump in Rs 300 crore on expansion across India as it looks to treble revenue to Rs 3,500 crore in the coming years.
 
V-Mart currently operates about 182 outlets in 14 states in India and hopes to end the year with 205 stores.
 

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