V2 Fashion on retail expansion spree, plans 100 new outlets by March '19

V2 Fashion and Apparels retailer is looking to doubling its retail presence. The retailer targets opening 100 new outlets by the end of next fiscal. The value-focused retailer, which mostly has a presence in Tier II and III cities, is also looking at achieving a compound annual growth rate (CAGR) of 40 per cent for the next 2-3 years. Akash Agarwal, Director, V2 Retail says the company aims to have a network of 100 stores by March 2019. They have the cash and the only challenge will be to find good/profitable locations.

V2 Retail, which at present has 48 operational outlets across the country, has already identified almost 40 new store locations. The company is also concentrating on increasing revenue contributions from its private label brands. He further adds currently the private label brands contribute 15 per cent of total sales, and is looking at taking it to 35 per cent. The company reported a turnover of Rs 471 crore in the previous fiscal. In October last year, funds affiliated with private equity firm Lighthouse made an investment of Rs 76 crore in the company.

V2 Retail was formerly known as Vishal Retail due to loses the company was later renamed V2 Retail.