Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!
you are here: HomeNewsBusiness

VMart Retail plans to take stores count to 275 this fiscal

The retailer also said it will invest Rs 115 crore in expanding its operations in the country.

October 23, 2019 / 04:05 PM IST

Fashion retailer VMart Retail on October 23 said it has launched its 250th store here and is planning to take the total count to 275 in the current financial year.

The retailer also said it will invest Rs 115 crore in expanding its operations in the country.

The company has opened its 250th store on October 23.

"After this, the number of VMart stores of the company will be 275," its Chairman and MD Lalit Agarwal told reporters.

The company has opened a total of 15 stores in Uttar Pradesh, NCR, Jammu Kashmir, Madhya Pradesh, Rajasthan and Arunachal Pradesh this October.

Close

The company will have 275 stores by the end of the current financial year, and it is investing Rs 115 crore in it, the retailer said.

"There is no recession as such. I believe that we cannot have a slowdown because we already have a parallel economy. There are many opportunities here. Apart from this, we have a large work force or young population that some earns and spend, and keep the economy moving. So, the scope of recession is less," Agarwal said.

The company will expand operations to non-metropolitan cities which have more business scope and the focus will be on fashion segment, he added.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

PTI
first published: Oct 23, 2019 03:59 pm
Sections
ISO 27001 - BSI Assurance Mark