Value fashion retailer V2 Retail reported a strong performance in its third-quarter business update, supported by sharp revenue growth and an accelerated store expansion strategy.
The company’s standalone revenue increased by 57% year on year to Rs. 927 crore (US $ 102 million) in the December quarter, reflecting steady consumer demand across its core markets and continued emphasis on expanding its physical retail footprint.
V2 Retail recorded same-store sales growth of 2% on a year-on-year basis, indicating stable performance from existing stores despite a challenging consumption environment affecting parts of the broader retail sector.
During the quarter, the retailer added 35 new stores, further strengthening its presence across key regions. The expansion was largely focused on Tier-2 and Tier-3 cities, in line with the company’s strategy to capture consumption-led growth in smaller towns and emerging urban centres.
The company has been steadily scaling up its store network to tap into opportunities arising from rising disposable incomes and a growing preference for organised retail in non-metro markets, which continue to be key drivers of its growth strategy.
