V-Mart Retail to Continue Growing At 25 Pc CAGR; Eyes Warehouse Expansion

V-Mart caters to the fashion needs of the entire family. While apparel is the centerpiece of the product portfolio, the brand is also a preferred one-stop destination for footwear, home furnishings, toys, accessories and grocery.

- Charu Lamba

Value fashion and lifestyle products retailer, V-Mart Retail, started its retail journey in 2003 with its maiden store in Law Garden, Ahmedabad and since then there has been no looking back. Today, the brand has 179 stores spread across 149 cities and 14 states.

In an interview with IMAGES Retail, Lalit Agarwal, Chairman and Managing Director, V-Mart Retail says, “Reflecting back, I would say that this journey actually began in my childhood, when my father started a tailoring shop in Odisha. Retail is in my blood, and V-Mart is first and foremost, my passion and then a business.”

The brand is mostly present in Tier II and III cities, and is now expanding to Tier IV as well, following a cluster-based approach.

“All our new store launches have been getting very good response, thus underscoring the growth potential in our target markets. Typically, our stores are planned in high-streets and high footfall locations and have an average size of 8,000 sq.ft. Sticking to our core business model, we don’t have any plans to expand in Tier I and metro cities,” adds Agarwal.

The USP of V-Mart is a price-value equation that puts customers first, and consistently delivers or exceeds their expectations on both quality and price.

According to Agarwal, “We are a value fashion retailer; our customers are the young and aspirational classes. Compared to other brands, we have maintained an unwavering focus on our core target audience, and they have patronized us with unmatched loyalty, in terms of repeat buying and word-of-mouth recommendation.”

Product Portfolio

The punch-line of the brand ‘Price “Less” Fashion’ emphasizes on the value retailing segment while focusing on affordability.