V-Mart Retail: No major drop in revenues despite fresh COVID disruptions
10 January 2022, Mumbai:
Value fashion retailer V-Mart Retail does not expect the fresh disruptions caused by the Omicron variant of COVID- to have any significant impact on its revenue in the coming quarters. Over the last few weeks, the company has witnessed a slight drop in footfalls due to the Omicron fear.
Footfalls have dropped below the pre-COVID levels, says Lalit Agarwal, Chairman and Managing Director.
However, demand for apparels has increased as the company caters to the need of basic value apparels of customers, he adds. V -Mart currently operates 300 stores.
The company operates medium sized hypermarket format retail stores that sell clothes, accessories, and footwear for men, women, and kids, cosmetics, luggage, toys, and games, and food, non-food, and staple items.
It recently opened a store in Uttar Pradesh and plans to open another 12-15 stores this year.
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