V-Mart Targets 150 Stores In FY17

V-Mart Targets 150 Stores In FY17

Multi-brand retail chain V-Mart plans to open stores in eastern states such as Jharkhand and Odisha next fiscal to take the number of its outlets to 150.

The company operates 123 stores at present and is focusing on Tier-II and -III towns for opening stores in the next fiscal.

“We will have up to 150 stores by the end of FY2016-17. We will add around 27 stores in states like Uttar Pradesh, Jharkhand, Bihar, Odisha and West Bengal,” V-Mart chairman and managing director Lalit Agarwal said.

V-Mart also plans to open two more stores in Jammu & Kashmir, where it operates a single store in Srinagar. It plans to open stores at Jammu and Udhampur.

The company had a revenue of Rs 720.50 crore in FY2014-15.