V-Mart will expand in Jharkhand and Odisha

Multi-brand retail chain V-Mart plans to expand big in the eastern states of India such as Jharkhand and Odisha in the next fiscal in order to take its store count to 150. Presently, it runs 123 stores.

The company is looking to open new stores in Tier II and III towns in FY2016-17. V-Mart chairman and managing director Lalit Agarwal said that soon they will add nearly 27 stores in states like Uttar Pradesh, Jharkhand, Bihar, Odisha and West Bengal. In addition, it plans to open two more stores in Jammu and Kashmir. It already runs one store in Srinagar. Jammu and Udhampur will be the other centres for new stores.

Besides new stores, V-Mart has also tied up with Saksham Trust to sell specialised items for the visually impaired. The products that they retail are talking thermometer, talking calculator, book reading and recording devices and smart can devices. V-Mart retails these items at six of its stores and plans to make them available at 50 more in the next six months. The products are priced between Rs 2 to Rs 11,500.

V-Mart had a revenue of Rs 720.50 crores in FY2014-15.