Delhi-based Vishal Retail will set up a chain of speciality stores to retail its apparel and FMCG range across the country, even while it firms up plans to introduce private labels for consumer durables and mobile phones. The products for the latter will be sourced from China, as stated by Chairman and Managing Director Ram Chandra Agarwal.
The company is also looking to launch quick service restaurants and happens to be talking with real estate developers to lease space at strategic locations including Delhi Metro stations.
Vishal Retail currently has around 65 stores across India. The plan is to open over 30 stores in the current fiscal, in a mix of hypermarket and speciality formats. The product portfolio will be a mix of both private labels and others brands.
The company, which launched an initial public offering (IPO) in June this year, achieved total sales of Rs 602.65 crore in 2006-07. The profit after tax in the same period was Rs 24.98 crore. Sales and profit after tax have grown at a compounded annual rate of 89.83 per cent and 302.89 per cent, respectively, during the period between FY04 and FY07.