V-Mart Retail Ltd, a chain of medium-sized hypermarkets, is set to expand in tier II and III cities. The company plans to open 13 stores in tier II and III cities, with an overall investment of Rs.80 crore, this year.
In the next three years, V-Mart will open 40 new outlets, Lalit Aggarwal, chairman and managing director, V-Mart Retail Ltd, informed IndiaRetailing.
The company also has big plans to advertise and promote its products through advertisements and below-the-line activities. The retailer spends about three per cent of its top line on advertising and promotion.
V-Mart entered the retail market in 2003 with a maiden store in Ahmedabad. In a span of seven years, the retailer has opened 55 stores in 51 cities.
Each V-Mart store comprises about 20,000 stock-keeping units. About 35 per cent of these are private labels.
– IndiaRetailing Bureau