V-Mart opens its 200th store in India

Value fashion retailer V-Mart Retail has expanded its retail presence with the addition of three stores this month in the state of Uttar Pradesh to take its store count to 200.

The company launched its 200th store in Mughalsarai, Uttar Pradesh. V-Mart had earlier opened stores in the city of Kannauj and Naubasta .

Commenting on the occasion, Lalit Agarwal, CMD of V-Mart in a statement said, “We remain focused on strong execution, riding on the back of our proven cluster-based expansion model.

The 200th store is a key milestone for V-Mart, more so, because we have added the last 100 stores in three years, while we took twelve years for the first 100. This demonstrates accelerated customer demand and V-Mart’s ability to translate that into all-round value creation.”

V-Mart has opened a total of 29 new stores in the current fiscal year so far and expected to add more in the coming months.

V-Mart has planned an investment of Rs 300 crore ($41.5 million) over the next five years to expand its retail presence in the country and expects to generate of Rs 3,500 crore by 2023.

For the financial year 2017-18, V-Mart had reported a net profit of Rs 78 crore with a revenue of Rs 1,227 crore.

V-Mart opens its 200th store in India

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