V-Mart plans to add 35 new stores this fiscal

Multi-brand value retailer V-Mart Retail is planning to expand its retail network by adding around 35stores by the end of this fiscal. The company presently operates around 182 stores. As a part of its expansion plans, V-Mart is now entering into Northeast region and will open four stores in Assam this month. It aims to have 20 stores in the region in next two years. The stores in the northeast will primarily have apparels and fashion clothes.

Besides, the company which has a presence in 14 states will open two stores in October in Arunachal Pradesh and Meghalaya. The company will invest around Rs 2 crore in each of these stores. V-Mart primarily operates in Tier II, III and IV cities and follows a cluster-based model approach to expand. The company, in FY 2017-18 registered revenues of Rs 1,227.37 crore, and is growing at the rate of 20 to 25 per cent per annum.