V-Bazaar is aiming an over three-fold rise in its turnover at Rs 750 crore by 2021 on account of sales network expansion
As part of its expansion strategy, the fashion and apparels retailer is planning to add around 60-65 more stores, taking the total count to more than 120 in the next two years.
The company is operating in Uttar Pradesh, Bihar, Jharkhand and Madhya Pradesh. It is looking at foraying into new states such as Odisha, Delhi NCR, Uttrakhand and Assam.
Hemant Agarwal, Chairman and Managing Director, V-Bazaar Retail, said, "We would add around 60-65 more stores by 2021 and take our stores count to nearly 120 by the end of FY 2020-2021."
"For growth, as a strategy, we are focusing on only tier-II and III places. Soon we would have stores in tier-IV places also," he added.
Currently, 40% of the V-Bazaar Retail revenue comes from men apparel, 23% from ladies apparel, 25% from kids apparel and 12% from general merchandise.