Value fashion retail major V-Bazaar enters grocery segment to boost overall sales
Leading value fashion retail chain V-Bazaar has expanded its portfolio by adding the grocery segment for overall growth.
The company expects the addition of the grocery category to increase footfalls at its stores helping it boost sales of its fashion category.
V-Bazaar had been witnessing a decline in sales due to the Covid-19 pandemic, which is why it had turned to the grocery to revive its overall sales going forward. It expects the category to contribute to 15 percent rise in its total sales revenue.
“By adding grocery to our current retail fare, we expect an increase in footfalls at our stores. We are trying to be a one-stop solution for the family where they can shop for garments and also buy grocery from our stores,” Hemant Agarwal, managing director of V-Bazaar, said in a statement.
V-Bazaar had generated revenue of Rs 220 crore ($31.1 million) for the last fiscal year and plans to add around 60-65 more stores by end of this year.
V-Bazaar has a strong retail presence with 72 stores spread across Bihar, Jharkhand, Madhya Pradesh, Orissa Uttar Pradesh, and West Bengal. It offers more than 60,000 products from across men’s, women, and kids apparel.
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