Last updated : September 29, 2020 11:00 am
The company intends to take the first-mover advantage as they work on their profitable business model and plans to expand its operations in tier 2-4 cities by FY22.
The ‘value retailing’ fashion business, V-Mart plans to aggressively expand operations and increase its presence in tier 2-4 cities. The company intends to take the first-mover advantage as they work on their profitable business model.
The initiative is expected to offer immense opportunities to the value fashion retailer in non-metro cities; where there’s a hiatus between full-fledged demand and under- served appetite for quality goods. The future expansions can make room for adequate service and fulfilment of customers’ aspirations in these cities.
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Due to the on-going pandemic, the company has slow down their expansion in FY21 with a motive to bounce back entirely in FY22. It aims to add 39 stores every year between FY20-FY23, as per the business model.
The fashion retail mainly focuses on tier 2-4 cities, owing to the high potential for growth in these cities and is presently offering its services at 266 stores in 191 cities across 19 states in the country.