V-Mart Retail to open 40 stores in FY21, invest Rs 70 cr, Retail News, ET Retail

Mumbai : Price fashion and lifestyle products and solutions retailer V-Mart Retail strategies to commit up to Rs 70 crore to open all around forty merchants in 2020-21, a top firm official said. The firm by now has 260 merchants in pretty much 195 areas throughout the region, mainly in tier-2 and 3 metropolitan areas.

“Even as we are speaking about the economy witnessing a slowdown in intake, it is a short term phase. Relatively, this is the most effective time for organised retail players to be present in this market place,” V-Mart Retail Chairman and MD Lalit Agarwal explained to on the sidelines of Retail Leadership Summit 2020 listed here.

He said the firm will commit in growing its network and will add all around forty merchants to acquire the count to three hundred shops in following fiscal.

“We will be investing Rs 60-70 crore for this growth. We

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