7th September 2021, Mumbai:
Footfalls at V-Mart Retail stores have reached 80-90 per cent of pre-COVID levels, says Anand Agarwal, Chief Financial Officer. Agarwal believes, consumer sentiment has become more indulgent as a lot of occasion buying is happening against last year’s need-based buying.
In August, V-Mart witnessed growing demand for fashion, occasion-led apparel amongst its consumers. The company recently acquired 74 stores from Arvind. Through these stores it aims to integrate the entire store chain system, get consumer confidence back and identify areas to once again turn this brand into a profitable venture. In the long term, it aims to bring the brand on par with the the operating profit levels of V-Mart.
V-Mart also plans to expand operations across India with special focus on South India. The retailer owns, operates, and franchises a chain of family lifestyle stores in India. It operates medium sized hypermarket format retail stores that sell clothes, accessories, and footwear for men, women, and kids, cosmetics, luggage, toys, and games, and food, non-food, and staple items.
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