V-Mart to go online next year

Following the list of physical retailers, who are launching their ecommerce ventures, now even V-Mart has decided to go online next year. The company will launch its mobile app-based platform to sell products under its portfolio.

Planning to follow an omni-channel strategy, the company will make deliveries from its existing stores. The online-offline service would be launched in select cities and would then be extended to other areas. By FY 2019-20, it anticipates the channel to contribute around five per cent of the company’s total turnover.

The company had reported 46.79 percent increase in net profit to Rs 1.60 crore for the fourth quarter ended March 31, 2015 and 48.54 percent for the fiscal year. As a part of its growth strategy, the company with most of its stores in Tier II and III cities, aims to continue reporting at a compounded annual growth rate (CAGR) of over 30 per cent for the next four to five years, while expanding its retail footprint across the country.