Value retailer V-Mart Retail Ltd, which primarily operates in tier II and III locations with 108 stores across 91 cities in 12 states, is to unveil an entry strategy into east India, with Odisha and West Bengal being the first territorial targets.
Speaking to Indiaretailing, Lalit Agarwal, CMD, V-Mart Retail Ltd. says, “Our main focus has been on scaling up the business. However, we don’t believe in hoisting our flags everywhere; we judiciously watch our steps for future endeavours. Right now, the states of Odisha and West Bengal are on our radar to gradually expanding to eastern and southern parts of India.”
The chain operates through a cluster-based model, which means not expanding beyond 100 kms from an existing store’s location. The chain is so far limited to northern and western regions of the country, but Agarwal’s announcement indicates its pan-India ambitions.
Agarwal also has an eye on making a transition to the e-commerce landscape and confirms that V-Mart is to implement new strategies to bring about a technological reformation in its set-up. “We try to put technological information in good use, which is why, going online through our web-based platform will be a viable option. We have an offline-to-online strategy, where offline would feed the online demand. We need at least a year to start online retail and it will be around next Diwali,” he informs.