Senior Correspondent, IndianRetailer.com & Retailer Magazine Oct 10, 2019 / 3 MIN READ
V-Mart Retail Ltd has launched four new stores in the state of Arunachal Pradesh, Uttar Pradesh, Delhi and Jammu & Kashmir, respectively.
With this expansion, V-Mart now has 243 stores in 186 cities across 19 states and a total tally of stores in Uttar Pradesh reaches to 91, in Delhi to 3 and in Jammu & Kashmir to 7.
V-Mart had unveiled three new stores last month. These stores were opened in the state of Madhya Pradesh and two in the state of West Bengal, respectively.
The company had reported 25.5% rise in its revenue in the first quarter of FY20, helped by the launch of new stores and higher footfall. Its EBITDA jumped 30.3% and margin expanded by 50 basis points to 12.8%.
V-Mart Retail was incorporated as Varin Commercial Private Limited in 2002. The chain primarily operates in tier II & tier III cities with the chain of “Value Retail”.
V-Mart, which has recently been conferred as the 'World's best performing department stores chain this year, is one of the leading value-retailers of the country and caters to the aspirational middle class residing in Tier-2, 3 & 4 cities across in India.
One can shop winter accessories too like knitted mufflers, caps, gloves, chunky heels and so much more!
Looking to open 60 stores in next two years
This acquisition enables V-Mart to establish a quick and wide footprint in southern and western India, thus debuting its presence in these untapped markets.
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