V Mart to focus on tier II, III cities

    V Mart to focus on tier II, III cities

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    V Mart Retail Ltd, value retailer, has plans to expand agressively across tier II and tier III cities.

    “V Mart is all set to open 25 more stores in FY 2010-11, out of which eight stores will be open in the first quarter of FY 2011. A total investment of Rs.10 crore will be made towards the expansion,” , MD and chairman, V Mart informs IndiaRetailing.

    The stores will open in tier II and III cities such as Begusarai, Basti, Dahej, Faizabad, Ratlam, Moradabad, Saharanpur and Balia. “The company’s is to consolidate, re-strategise its expansion plans, negotiate rentals and reduce inventory to cut costs,” he informs.

    Currently, V Mart operates 52 hypermarkets occupying retail space of 10,000 square feet across 45 tier I and II cities in the country.

    — Shubhra Saini