Multi-brand retail c
hain V-Mart is aiming to expand its store network up to 200 in non-metro cities in next four years by adding 25 stores every year.
The company, which primarily retails apparels in tier 2 and 3 cities, has also plans to expand in the North East and Southern regions.
“We would double our size in next three to four years. We would keep adding 25 to 30 stores every year in our network,” V-Mart Retail Chairman and MD Mr. Lalit Agarwal said. “We aspire to have 114 stores in our network by the end of this fiscal”, he said.
It has plans to add new stores in Lucknow, Allahabad and foray in places like Kishanganj, Purnia in Bihar and some places in West Bengal during this fiscal. Presently, it is operating in 86 cities in 12 states.
“Right now we are gradually expanding in East. Then we would move to North-East and in places like Assam, Bengal and Odisha. We have a cluster-based format and would move down south in phases,” Mr. Agarwal said.
The company is focusing on apparels. Out of 100 stores, it is selling FMCG and other product in 34 stores only.
“Now all the new stores have only apparels. They are a family fashion store. We think that fashion and FMCG don’t get together,” he said.