01 April 2022, Mumbai:
V-Mart Retail plans to expand retail space by 17 percent by opening around 60 new stores next year, says Lalit Agarwal, Founder & MD, V-Mart Retail.
ALSO READ VMART Retail Ltd Q3 FY22 results
The company opened around eight stores in the current quarter as it saw normal business returning to stores which is in terms of sales per sq. ft, the cost incurred per sq. ft, and the EBTIDA per sq. ft.
It plans to continue with its operations as these stores are doing quite well now, adds Agarwal.
RELATED NEWS V-Mart Retail, Lalit Agarwal: Normal revenue expected despite Covid 3rd wave disruptions
The retailer aims to penetrate India by moving to the block levels and tehsil and denser in the bigger cities and bigger towns wherever there is a higher amount of population.
V-Mart plans to expand by at least three times in the next five years. It hopes the upcoming Eid festival and weddings season will boost business in the coming years.
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