Value retail chain V-Mart was launched in 2003, long before the term value retail became fashionable. The chain was founded by Lalit Agarwal to bridge the gap between urban and rural retail by providing fashionable and quality products at reasonable prices.
The brand's journey started with a debut store in Ahmedabad and extended store by store mainly in smaller towns and cities with less prevalent organised retail. As on 30 June, V-Mart had 448 stores, operating on a value retail model and emphasising affordability without compromising on quality. The stores are designed to be one-stop destinations, offering a wide range of apparel, footwear, home and personal care products.
V-Mart plans to open 50 more stores by the end of December 2024 to reach more customers and bring the value-driven retail experience to new markets across the country.
Pricing strategy
Typically, V-Mart's products are priced in the affordable range of ₹500-1000.
Negotiating with suppliers and optimising supply chain costs is how V-Mart can offer products at such low prices.
"Our pricing strategy balances diverse tastes, streamlined options, and affordability for a refined shopping experience. We ensure value for the customers through market research, data analysis, and competition surveys," said Vineet Jain, COO, V-Mart Retail Ltd.
Revenue & Profit
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