V-Mart, affordable apparel and lifestyle product retail chain, is expecting to cross Rs 1,000 crore turnover in the ongoing fiscal on account of estimated 25 to 30 per cent rise in sales.
V-Mart, primarily operates in Tier II and Tier III cities with the chain of Value Retail departmental stores, would continue to add more stores in its existing markets, the company said in a statement.
“We are planning to open more stores all over India and will cross Rs 1,000-crore turnover in this financial year,” Chairman and Managing Director, V-Mart, Lalit Agarwal said.
In FY 2015-16, the company had reported a revenue of Rs 809.38 crore.
The retail chain is upgrading its products and services to meet the changing customer needs and has also launched a loyalty programme to retain customers in its fold.
“We are consciously focussing on winning and retaining the customers with unmatched services. Our recently launched, ‘Value Club’ is a vital step in the same direction,” Agarwal said.
The company is presently operating 140 stores spread across 120 cities. Its vendor base is above 1,000 pan-India.
Out of the 140 stores, it offers FMCG products at 37 outlets besides apparel and lifestyle products.