Dec 24, 2019
V-Mart opens 17th store in Lucknow
Dec 24, 2019
Value fashion retailer V-Mart Retail opened its 17th store in Lucknow, as the brand continues to expand across India.
“We are glad to announce the launch of our 17th store in Lucknow,” said V-Mart Retail COO, Samir Misra.
“It is another step by V-Mart which demonstrates that the company has been a pioneer in providing access to value fashion to the aspiring class in Tier 2, 3 and 4 cities in India.”
The store houses V-Mart’s selection of womenswear, menswear, children’s wear, and accessories. The store launch also featured the brand’s new party wear collection 'The Glamour Collection', designed for the winter/festive season.
“We are getting an overwhelming response from our existing stores and we expect that our new store in the city also proves to be a milestone in our endeavour to take fashion to the nooks and corners of the city,” said Mishra.
The brand is currently expanding its brick-and-mortar presence across India and opened 14 stores in the second quarter of the current financial year.
The brand also reported a four-fold year-on-year increase in net losses during the same time period totalling Rs 18 crore ($2.6 million), which it attributed to the economic slowdown in the country. Revenue rose by 20% during the July to September quarter to reach Rs 263 crore.
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