V2 Retail to launch 250 offline stores across India in 2 years
27 December 2024, Mumbai
Expanding its operations, V2 Retail plans to launch 250 offline stores across India in the next two years. The retailer also plans to increase revenues to $328 million during this period.
Further, the brand aims to enhance customer experience and expand product offerings by capturing market shares from both unorganised retailers and competitors.
Akash Agarwal, Director, V2 retail, says, the company continues to grow even amid heightened market challenges. In FY23, it recorded a 31 per cent growth in its same-store sales, which is substantially higher than the industry average of 5-9 per cent, he adds.
In FY24, V2 Retail aims to increase its revenues to $211 million as against revenues of $134 million in FY23. To achieve this, the company plans to shift its strategic focus by increasing average selling price to Rs. 300-350 ($3.52- $4.1). Upgrading its overall customer experience, the company has made heavy investments in product development and store redesigns,
Besides, the company also plans to foray into the e-commerce space with the launch of its own exclusive website soon. The company also aims to prioritise a robust and customer-centric online experience.
