V-Mart to open stores in South India

26 November 2021, Mumbai:

V-Mart Retail has added 25 stores so far this year. The plan is to add at least 15 more stores in the second half of the year, some in South India, which is new territory for V-Mart.

The company is building up inventory. Historically the second quarter has been a loss-making quarter, and the third quarter has always been profitable, and so V-Mart expects to see a turnaround going forward.

The company has a comfortable cash position and there are no debts and there are no plans to take on any debt or external funding as of now.

What’s helping is the uptick in average selling price as well as in average bill size since winter wear is more expensive. V-Mart also sees a positive trend in the fact that last year at the same time more of home wear and loungewear and comfort were being sold.

But now occasion wear and festive wear demand have grown. This is aiding the uptick in average selling prices as well as in average bill size. About 70 percent of V-Mart’s offerings are private labels.

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