Leading Indian apparel retailer V-Mart is geared up to open more than 65 stores this year. The company opened up 59 stores in the last year and will continue to open more than those number of stores in the current year as well.
The company has a wide network of 400+ stores across 235 towns in 26 states.
Lalit Agarwal, CMD of the company said to Economic Times, “We have always taken the view that India’s story is a long-term story and it is definitely going to grow in the longer term. I think what India holds is a lot of potential and that is what we are right now banking on. So we are not compromising on our growth plan. We continue to open.”
For new stores, the geography should be pan-India because now the company is present in pan-India with unlimited potential in southern India.
The company will grow that part as well because it is getting good traction and good benefits in a lot of small towns in southern India because there are a lot of virgin territories also in those particular areas which it never grew.
Apart from that focus will be on the northern belt as well as the eastern belt. The eastern belt is coming out very well. So the east and the northeast are other markets that the company is focusing highly on apart from UP and Bihar which the company continues.
