V-Mart Retail’s expansion spree continues, opens four new stores

By

Maverick Martins

Published
Mar 20, 2019

V-Mart Retail as part of its ongoing expansion plan has added four new stores to take its total tally in the country to 211 stores.
 

The company added two new stores in the state of Uttar Pradesh and one each in the state of West Bengal and Assam.
 
V-Mart has the highest number of stores in Uttar Pradesh with 84 while in Assam and West Bengal it has six and 12 stores respectively.

The company has been on an expansion spree this year and has been opening stores across the country to strengthen its foothold in the value fashion market. V-Mart has earmarked an investment around Rs 100 crore ($14.5 million) on the opening of new stores this year.
 
V-Mart Retail is banking on tier 3, 4 cities to drive future growth as it sees huge potential in these markets. It is currently present in over 168 cities and aims to reach 1000 towns over the next few years.
 
For the financial year 2017-18, V-Mart had reported a net profit of Rs 78 crore (approx $11.3 million) with revenue of Rs 1, 227 crore. The company is hoping for increased profits and revenue on the back of its pan India expansion this fiscal.