- Meenakshi Kumar |
V-Mart the value fashion retailer has seen a spurt in its Q2 revenue which has increased 23 per cent; ebitda went up 207 per cent while profit after tax (PAT) was up 494 per cent. Same store sales have gone by eight per cent. Eight new stores were opened during the quarter out of which four were in Jharkhand, two in West Bengal, one in Bihar and one in UP. At the end of the quarter, total retail area increased to 13.27 lakh sq.ft. Contribution of private labels increased 54 per cent. The company aims to remain focused on increasing the contribution of sales from private labels such as Flick, Twist, Desi Mix, Charcoal and J White.
For the first half of the year, V-Mart’s revenue increased 32 per cent year-on-year. Ebitda was up by 120 per cent, profit after tax by 190 per cent and same store sales growth by 17 per cent.
Historically, Q3 is the biggest quarter of the year and the company looks forward to continued growth for the season. V-Mart is improving its range management and assortment planning systems in the next quarter to augment its technology-led growth strategy. For the wedding season, V-Mart is offering a rich range of men's sherwanis and latest bridal lehengas.