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

V Bazaar eyes Rs 5 billion business, 562,000 sqft retail space by 2020

V Bazaar eyes Rs 5 billion business 562000 sqft retail space by 2020 2V-Bazaar, by the end of March 2020, plans reaching a total store count of 75, having a retail space of 562,000 sq ft and eyes a turnover of Rs 5 billion.

Presently the value retail chain V-Bazaar operates 29 stores in 25 cities spread across 2 states, 21 stores in UP and 8 stores in Bihar and a total retail area of more than 2.2 lakh sq ft. V-bazaar plans to expand to other states and cities and to have 51 operational stores by the year 2018-19, reaching a total retail space of 380,000 sq ft by March 2019 and also having a presence in the state of Jharkhand. In the year 2019-20, the company has a plan to expand to states of Orissa, West Bengal, etc.

Growing Indian apparel retail market

“Indian retail industry has immense potential as India has the second largest population with affluent middleV Bazaar eyes Rs 5 billion business 562000 sqft retail space by 2020 class, rapid urbanisation and solid growth of Internet. The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players.” says emphatically Hemant Agarwal, CMD, V Bazaar Talking about the online retail, Agarwal highlights, “Although we don’t have presence in the online segment and in the near future too we don’t have any plans for online stores, but the value price point has more advantages online. While shopping online, you can’t always check the fit instantly; hence customers tend to go for more reasonably priced items.”

Despite some hiccups in 2016, India remains the fastest-growing online market in the world. Online retail sales in India will reach $64 billion by 2021, growing at a five-year 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 India's online retail market. Online retailing is fueling the growth of all fashion wear. It’s definitely going to grow further in the future as customers are having more digital access than ever.“We are a brick & mortar store, our sales are not much influenced by the online stores. However, we do promotional activities online.” says Hemant Agarwal, CMD, V Bazaar.

Knitwear an important category in value retail

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 the knitwear sale due to the very affordable cost of knitted garments and the variety of style options availability. The so called high street fast fashion majorly constitutes of knitwear and denim. Knitwear has a big role play in the casual wear category and is readily accepted among the masses.

Fashion vs Basic Knitwear

For V Bazaar, the ratio 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 too but the quantity of such products is very 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.

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

Mirrorsize US to launch ‘draping’ solution based on customer’s selection of fabr…

Mirrorsize US to launch ‘draping’ solution based on customer’s selection of fabric, style

The Indian arm of NJ-based company, Mirrorsize US Inc, plans to launch a ‘Draping’ product in the next three to four months. “Based on customer’s selection of fabric, style, etc,... Read more

UV&W to tap over 2,000 MBOs, increase online presence by 2020

UV&W to tap over 2,000 MBOs, increase online presence by 2020

Believing in “innovation plays a vital role in this category,” thermal wear brand UV&W has added new blends besides introducing new styles this season. In addition to its base color... Read more

Kavin’s new thermal range promises best warmth and comfort

Kavin’s new thermal range promises best warmth and comfort

Following its motto: ‘Inspire to design, design to style and style to perfection,’ Kavin’s A/W ’19 collection is a special range of thermal wear in Miyabi fabric. “This range of... Read more

Adding more variety to its range, Juelle is positive about business this winter

Adding more variety to its range, Juelle is positive about business this winter

The latest winter wear range from Juelle is trendy, chic and highly adaptable to the youth. “Embroideries and fancy yarns have emerged as the major style statement this year. Sweaters... Read more

Indian techies tackle sizing issues with AI-based solutions

Indian techies tackle sizing issues with AI-based solutions

A 2016 survey of 1,000 online shoppers by British consumer analysis firm Savvy Marketing showed around 63 per cent of women buyers returned their clothes. Most of these clothes were... Read more

Vingo to add summer collection, launch own portal to expand retail

Vingo to add summer collection, launch own portal to expand retail

Delhi-based garment company, Vingo Clothing has big plans for the future. The company, which recently launched its winter range, is now working on its summer collection, “Which will be more... Read more

Shingora to expand product category, launch new collections

Shingora to expand product category, launch new collections

Winterwear brand Shingora has introduced its autumn/ winter ’18 collection featuring embroideries, checks and jacquards. This collection is adorned with funky and floral prints. “Our biggest launch however, is the... Read more

Tirupur garment exporters look at domestic market, investing in Ethiopia

Tirupur garment exporters look at domestic market, investing in Ethiopia

Global festive season has brought a ray of hope to Tirupur, which recently witnessed one of its worst years. Demonetisation coupled with the implementation of Goods and Services Tax (GST)... Read more

Making a mark with jackets, Replay Square optimistic business this season

Making a mark with jackets, Replay Square optimistic business this season

Raman Kapoor, Managing Director, Replay Square, a manufacturer of designer jackets, has a very positive view of the current market. The market, according to him is good “as production level... Read more

4th Intex South Asia gets an overwhelming response with over 3,500 attendees

4th Intex South Asia gets an overwhelming response with over 3,500 attendees

The 4th edition of Intex South Asia, held from November 14 to 16, 2018, at the Sirimavo Bandaranaike Memorial Exhibition Centre (BMICH) in Colombo, Sri Lanka, showcased a wide range... Read more

MOST POPULAR NEWS
Go to top