V-Mart strengthens retail presence with store in Uttar Pradesh

Value fashion retailer V-Mart Retail Ltd has strengthened its retail presence with the opening of its 88th store in the state of Uttar Pradesh.
 
V-Mart strengthens retail presence with store in Uttar Pradesh - V-Mart - Facebook

Uttar Pradesh is the biggest market for V-Mart and contributes the highest to the company’s overall sales.
 
V-Mart reported weak fourth quarter earnings owing to modest top-line growth and higher operational costs. V-Mart’s total revenue for the entire fiscal year 2018-19 rose by 17 percent to Rs 1,430 crore ($206 million).
 
The company is banking on expansion to further boost its sales and improve margins during the current fiscal.
 
V-Mart will be bullish this year and expecting strong growth on the back of its store openings across the country. The company has said that it will be adding around 50 new stores in existing as well as new markets during the current financial year.
 
V-Mart focuses mainly on tier 2, 3 markets as it caters to the aspirational buyers. It currently has a total of 225 Stores in 177 cities across 17 states.

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