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V-Mart Awarded IMAGES Most Admired Retailer of the Year in the New Market Penetration Category

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V-Mart was awarded IMAGES Most Admired Retailer of the Year for New Market Penetration at IRA 2022.   The brand was honoured with the trophy for its expansion strategy in the Tier II & III markets. V-Mart launched 101 stores in the last one year.  The retail space of the brand grew to 33 lakhs sq.ft from 22.9 lakhs sq. ft in March 2021.  The net retail growth percentage of V-mart in the year was 23%. With the USP of ‘Price less’ fashion, the brand advocates 20 years of service in delivering affordable fashion, coupled with a wide network of 380+ stores across 240 towns in 27 states. 

(From L to R):Vineet Jain, Chief Operating Officer, V-Mart; Akash Nagpal, AVP & Head Leasing, Trehan IRIS

Founded in 2002, V-Mart is a family retail store chain offering apparel, footwear and accessories for men, women and kids. The brand also offers a wide range of home furnishings, general merchandise, toys, tableware, utensils, and other home utility items. Catering to the needs of middle-class population, V-Mart primarily targets Tier II & III cities, with a chain of ‘Value Retail’ departmental stores offering apparels, general merchandise, and food to its customers. 

The nominees in this category were Angel & Rocket, Haldiram’s, Kapsons, Metro Brands and Tommy Hilfiger/ Calvin Klein.