Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India

V Bazaar eyes 562,000 sq. ft. retail space by March 2020

V Bazaar eyes 562000 sq. ft. retail space by March 2020 002Knitwear as a category is not only more value for money but also trendy and in-fashion for V Bazaar’s customer base. The category contributes more than 70 per cent of sales revenue in casual wear segment. Knitwear’s contribution is around 40 per cent in the entire range of products available in stores.

Omni-channel growth

As far as brick & mortar stores are concerned, knitwear has a big role to play in the entire sales revenue. The value retail format contributes majorly to knitwear sale due to its affordable cost and variety of style options. High street fast fashion majorly constitutes of knitwear and denim. Knitwear has a big role to play in the casual wear category and is readily accepted among the masses.

India remains one of the fastest-growing ecom market in the world. Online retail sales in India is expected to reach $64 billion by 2021, growing at a five-V Bazaar eyes 562000 sq. ft. retail space by March 2020 001year CAGR of 31.2 per cent. But government actions, a slowdown in venture capital funding, logistical challenges, and slow growth in the number of online buyers are holding back the market. “We are a brick and mortar store, our sales are not influenced much by online stores. However, we do promotional activities online. As far as the entire knitwear segment is concerned, online stores boost total sales and knitwear garments are preferred over woven while buying online because of the lower price range and universal fit,” says Hemant Agarwal, CMD, V Bazaar.

Fashion vs basic knitwear

For V Bazaar, the ratio between fashion and basic in knitwear is 1:4. “Considering our value retail format, the major collection constitutes of basic knitwear. We do have high street fashion and other fashionable designs but the quantity of such products is limited, as we offer more variety in the basic segment. The majority of fashion in the menswear segment constitutes of Rugby Polo T-shirts, cut n sew T-shirts, Active Raglan T-shirts, cut n sew bermudas, pajamas among others. In women’s and girls’ section, fashion majorly constitutes of peplum tops, boat neck tops, cut n sew bottom wears to name a few,” Agarwal adds.

Future Plans

India’s retail sector has immense potential the country has the second largest population with affluent middle class, rapid urbanisation and solid growth of Internet. The retail industry has emerged as one of the most dynamic and fast-paced sector with the entry of new players. V-bazaar currently operates 29 stores in 25 cities spread across two states pan-India with a total retail area of more than 2.2 lakh sq. ft. Presently the value retail chain has 21 stores in UP and eight in Bihar, with a plan to expand to other states. V-bazaar plans to have 51 operational stores by 2018-19, reaching a total retail space of 380,000 sq. ft by March 2019 while foraying in Jharkhand. In 2019-20, the company plans to expand to Orissa, West Bengal, etc, reaching a total store count of 75 operational stores. By then, the company would be having a retail space of 562,000 sq. ft. By end March 2020, the company eyes a turnover of Rs 5 billion.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Classic Polo to add 20-30 stores next year

Classic Polo to add 20-30 stores next year

Classic Polo’s S/S ’19 collection features nano interlock, injected, supima, linen cotton, mercerised, multi color inject, etc. It also offers bonding technology for knit/woven, micro knitted denim, micro dobby, oxford... Read more

Bespoke clothing start-ups transforming apparel landscape in India

Bespoke clothing start-ups transforming apparel landscape in India

Taking consumers away from mass-produced and one-size-fits-all options to bespoke clothing is a growing expanse in India. While the concept was prevalent for long with neighbourhood tailors or boutiques it... Read more

18 Fire creating unique styles and variety in fusion wear

18 Fire creating unique styles and variety in fusion wear

The fashion industry has always been ruled by innovation and styling. Fusion wear brand blends innovation and style with the minimalistic and basic as it relates to the niche market... Read more

India’s draft e-commerce policy to give level playing field to stakeholders

India’s draft e-commerce policy to give level playing field to stakeholders

The government recently released the draft e-commerce policy, intended to promote ‘Make in India’ and create a level playing field for homegrown companies. Once adopted, it could lead to the... Read more

Arvind reports tepid Q1 results, textile segment underperforms

Arvind reports tepid Q1 results, textile segment underperforms

Arvind, one of India’s biggest textile conglomerates, recorded moderate consolidated top-line growth in Q1 FY19 mainly due to the underperformance of the textile segment. This was largely on account of... Read more

Fifty Degree launches a new collection of tees

Fifty Degree launches a new collection of tees

Fifty Degree, the flagship brand of V3 Exports, recently entered the Indian T-shirt market. The brand specialising in men’s T-shirts has four categories: formals, basics, sports and casuals. To enhance... Read more

Comformance gaining grounds in work place

Comformance gaining grounds in work place

Need for comfort is slowly seeping into formal dressing as well because comfort is the most elemental form of being ergonomically sound. A recent study by Storm line, the foul... Read more

Couture Week presented the best fusion of traditional and contemporary fashion

Couture Week presented the best fusion of traditional and contemporary fashion

The yearly fashion extravaganza ‘India Couture Week’ presented an ensemble of luxury fashion. The five day fashion marathon of ICW 2018 saw some of India’s finest and most respected couturiers... Read more

Bodycare International to launch new kids’ products

Bodycare International to launch new kids’ products

A leading player in the kids’ innerwear, infant wear and thermals category, Bodycare International with its renowned brands Proteens and Bodycare Insider offers vests, briefs, trunks, panties, bloomers, boxers, etc... Read more

Madame wows Indian women with its fashionable line up

Madame wows Indian women with its fashionable line up

Offering western wear at affordable rates, Madame operates through over 150 EBOs. Recently it has opened four international stores in Nepal, Saudi Arabia, Bhutan, and plans to cover the Asia... Read more

MOST POPULAR NEWS
Go to top