Indian value fashion and lifestyle products retailer V-Mart Retail is mulling over an omni-channel business expansion strategy with plans to opt for online retail by the end of next year, according to chairman and managing director Lalit Agarwal. The company is also looking at investing ₹100 crore in the next fiscal to open new stores and a new warehouse.
V-Mart aims at investing ₹300 crore to double store count and treble its turnover to ₹3,500 crore in the next five years, according to a news agency report.Indian value fashion and lifestyle products retailer V-Mart Retail is mulling over an omni-channel business expansion strategy with plans to opt for online retail by the end of next year, according to chairman and managing director Lalit Agarwal. The company is also looking at investing ₹100 crore in the next fiscal to open new stores and a new warehouse.#
With 185 outlets in over a dozen states in India, the company primarily operates in tier II, tier III and tier IV cities and follows a cluster-based model approach to expand.
With a revenue of over ₹1,200 crore in 2017-18, the company plans to add more than 200 stores in the next five years to create a network of 400 outlets.
The warehouse is being planned in either Uttar Pradesh or Bihar, Agarwal said.
About three-fourths of V-Mart stores are located in four states—Uttar Pradesh, Uttarakhand, Jharkhand and Bihar. (DS)
ALCHEMPro News Desk – India
marketing@alchempro.com
