V-Mart to open 200 stores over next 4 years

Multi-brand retail chain V-Mart plans to expand its store network by opening about 200 stores in non-metros over

the next four years. The plan is to add up to 25 stores every year. The company retails clothing options in Tier II and III cities. Plans are also in the pipeline to venture into the Northeast and Southern regions.

The company recently re-launched its Sonagiri, Bhopal store spread over an area of 8,630 square foot. This takes the total number of stores to 98 in 85 cities across 12 states with a total area of 7.93 lakhs square feet. Multi-brand retail chain will be opening 25 new stores at an investment of Rs 50 crore by 2015. The company, having most of its stores in Tier II, III cities, will explore untapped states of Orissa and West Bengal this fiscal. The plan is to continue reporting a compounded annual growth rate (CAGR) of over 30 percent for the next four to five years, while expanding its retail footprint across the country.

While the company depends upon its physical stores and gets 85 percent of its revenue from apparels and fashion wears, it has announced its plans to tap the online medium. It currently operates 89 outlets at 76 different locations, selling grocery at its 35 outlets and fashion through the rest. Last fiscal, the company added 23 new stores in its network.