V2 Retail Plans to Expand Footprint by Adding 20 More Stores
V2 Retail Plans to Expand Footprint by Adding 20 More Stores

Apparel chain V2 Retail is planning to open 20 more stores to take the overall count to 120. The company is also planning to hire around 200 people for its stores across seven states including the national capital Delhi by the end of the ongoing financial year 2022-23.

Due to the decrease in Covid-19 cases and the widespread distribution of vaccines, the company's hiring operations have increased in recent weeks. All of these factors give the organization good enough reasons to be optimistic about expanding its workforce.

V2Retail, which has its presence in over 100 cities across the country with an employee strength being 4000 people, is planning to hire these 200 people for head office and store management. The company is hiring people from retail backgrounds for these positions. As per its growth strategy, the company is expanding into the tier-II cities of UP, Odisha, Bihar, Jharkhand, Karnataka, and Goa which have an emerging consumption class.

According to the trade reports, the hiring trend is getting more broad-based with banking, financial services and insurance (BFSI), retail, supply chain, logistics, and manufacturing. All these industries are seeing signs of positive growth.

Akash Agarwal, Director of V2 Retail Ltd said, “Our company is seeing a good 20-30% jump in its hiring mandates in the current quarter over last year, and the momentum is sustainable for at least the next two quarters. In the last year, we have hired 700 freshers across India. We are looking for fresh and skilled talent as we have completed the milestone of reaching over 100 high fashionable stores this fiscal. The demand for a skilled and experienced workforce is rising day by day in the retail industry and we are planning to hire some exceptional talent who have expertise in the retail sector. V2 has always aspired to provide a high-quality shopping experience to its customers and a highly efficient workforce can deliver this effortlessly.”

While there is no sluggishness being foreseen till September, which is the peak hiring season with the onset of the festive period in India, it is a wait-and-watch situation with some fresh Covid-19 cases getting reported in the country.

“We don't see any evidence of hiring slowing down right now, but we'd be careful in November and December, depending on how the trend of new instances reported in various states plays out,” Agarwal added.

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