V-mart, a medium-sized hypermarket retail chain, has announced an investment of around 80 cr for the next 3 years starting with 13 stores in 2011. The company is planning to open its stores in tier II & III cities.
Citing the names of few cities Mr Lalit Aggarwal, founder of V Mart said,” Our focus for the next would in these cities to tap the market. The cities which we would cover include—Bhagalpur, Gaya, Agra, Allahabad and many more.”
All these stores would be company owned and the cost spend on each store would be Rs 1.5-2 crore , to be built over 8,000-10,000 square feet.
It currently has 55 stores covering almost 51 cities.