V-Mart to cross Rs 1000 crore in full-year 2016-17

By

Maverick Martins

Published
Mar 6, 2017

Apparel and lifestyle retail chain V-Mart is expecting to cross Rs 1,000 crore turnover in the ongoing fiscal year, on the back of an estimated 25 to 30 per cent rise in sales. 

V-Mart, which primarily operates in tier II & tier III cities with the chain of "Value Retail" departmental stores, would continue to add more stores in its existing markets, the company said in a statement.

"We are planning to open more stores all over India and will cross Rs 1,000-crore turnover in this financial year," its chairman and managing director Lalit Agarwal said.

In full-year 2015/16, the company had reported revenue of Rs 809.38 crore.

The retail chain is upgrading its products and services to meet the changing customer needs and has also launched a loyalty programme to retain customers in its fold.

"We are consciously focussing on winning and retaining the customers with unmatched services. Our recently launched, 'Value Club' is a vital step in the same direction," Agarwal said.

The company is presently operating 140 stores spread across 120 cities. Its vendor base is above 1,000 pan-India.