V2 Retail’s Q3 net profit down 12 percent

For the third quarter V2 Retail’s net profit dropped 12 percent. Sales revenue for the quarter was down nine per cent. V2 Retail is a leading player in the fashion and apparel market. It has over 75 stores spread across 17 states and 70 cities. V2 Retail, formerly known as Vishal Retail, expects to increase its share of the overall market to 24 per cent by 2020.

Incorporated in 2001 V2 Retail launched a series of hypermarkets like Vishal Megamart. It operates in Tier II and III cities. However, the economic downturn starting in 2008 pushed the company into deep losses, soon after going public in 2007. This forced the company to sell its core brand Vishal to tide over the financial difficulties, opting for the V2 branding subsequently.

V2 Retail offers an unparalleled retail mix combined with value and variety to its shoppers. Fashion gives an extraordinary experience with a large portfolio of products. V2 retail believes in offering complete value for money to shoppers through its large variety of smart, trendy, fashionable apparels across categories under one roof. The company also announced the appointment of Manshu Tandon as the new Chief Executive Officer.