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V-mart to operate 120 stores in India by 2015

RBR Staff Writer Published 11 October 2012

Multi-brand retail chain V-mart plans to double its showrooms to 120 outlets by 2015 as part of the company’s strategy to expand the retail network.

The company is also looking to expand in the North Eastern region and aims to have a presence in all of the states with the first outlet to be opened in Assam in 2014.

V-mart Retail Chairman and MD Lalit Agarwal said the company has an aggressive expansion plan.

"We are looking to add 58 stores in 55 new locations by March 2015 and almost all of these will be opened in smaller Tier II and III cities," Agarwal added.

Talking about its plans in the northeast, Agarwal added the region has huge potential and is still untapped by any big organized retailer.

"We are targeting four cities -- Guwahati, Tinsukia, Jorhat and Dibrugarh."

V-mart Retail operates a chain of departmental stores offering apparels and general merchandise.