V-Mart Retail is one of the fastest growing departmental store chain in India. Now it’s on expansion in non-metros and Tier-II and -III towns. V-Mart follows an interesting trend of opening new store without going beyond 100 kilometers of the previous one, says Lalit Agarwal, CMD, V-Mart Retail, on the growth of retail in non-metros. It has 173 stores across 14 states in India. The company is doing exceedingly good business.
Agarwal further says the company has maximum presence in North, moving towards the East. At present, 75p per cent stores are located in UP, Bihar, Uttarakhand and Jharkhand.
Among the 173 stores, the brand has opened about 31 stores in the last fiscal and is looking for the same number by the end of current fiscal. The company has stopped FMCG in 2012 because of low margin and has found greater confidence in value fashion. At present 37 stores offers retail FMCG.