Retail major V-Mart is planning to double the number of its store in the next two years. The plan that will invite an investment of Rs 250 million is in order to increase the turnover of the company by five-fold, said a top company official.
“Our plan is to nearly double our store size in the two formats to touch a figure of 100 by end of 2010,” said Lalit Agarwal, managing director, V-Mart.
Currently V-Mart has 52 outlets including 37 hypermarkets of flagship V-Mart brand and 15 V-Galz stores. The company is also seeking to increase the share of its private labels from 25 per cent to 30 per cent of the company’s overall sales during the period.
In addition to company’s existing a dozen private labels in the apparel category including J-White, Charcoal, Jinxx and Groovy Kids, it has FMCG labels like Fresh and Clear and Kirana Bazaar and accessory labels including Crux.
— IndiaRetailing Bureau