V-Mart on expansion spree, to open new stores next fiscal

Value fashion and lifestyle products retailer V-Mart Retail, which primarily operates in smaller towns, is planning to invest Rs 100 crore next fiscal to open new stores and set up a new warehouse. The company is evaluating a omni-channel (offline and online retail) strategy to expand business and reach its customers.

V-Mart primarily operates in Tier II, III and IV cities and follows a cluster-based model approach to expand. It plans to invest Rs 300 crore to double store count and treble its turnover to Rs 3,500 crore in the next five years. The company plans to add more than 200 stores in the next five years to create a network of 400 outlets. It also plans to set up a new warehouse in either Uttar Pradesh or Bihar to service its stores.

V-Mart, at present, has a distribution centre located near Gurgaon to service all its stores. It currently operates about 185 outlets in over a dozen states in India.The company, in 2017-18, had reported a revenue of over Rs 1,200 crore.