V2 Retail to roll out expansion backed by Lighthouse funds

By

Isabelle Crossley

Published
Oct 17, 2017

Lighthouse, a middle market private equity firm, has invested 760 million rupees (approximately 11.7 million US dollars) in the Indian clothing company V2 Retail. The brand will use this money to expand its retail presence.

V2 Retail is one of the fastest growing fashion brands in the value sector of the market, and the brand's bullish expansion plans of reaching a total of 100 stores within the next two to three years has now been made a possibility by the large investment by Lighthouse.

Ram Chandra Agarwal, the Chairman and Managing Director of V2 Retail, said about the development: “We were highly impressed with Lighthouse’s track record of investing in and building leading branded, consumer companies, and believe their assistance will be invaluable for us going forward. We plan to further penetrate in our core markets, such as Bihar and Uttar Pradesh, due to large number of high potential Tier II and III cities, which remain significantly underpenetrated in terms of organised retail.”

Sachin Bhartiya, a Partner for Lighthouse Advisors, said about the deal: “We have been witnessing a structural change in the Indian retail landscape over the past few years, and are very excited to partner with V2 Retail. We have great confidence in Ram Chandra Agarwal, the pioneer of value retailing in India, and his team, and believe that the next few years will be transformational for the company.”

V2 Retail Limited, which stands for Value and Variety, describes itself as a complete family fashion store and is in the value section of the market. The brand offers womenswear, menswear, children’s wear, and lifestyle products. The brand is present in 13 states and currently has 44 stores.