The value fashion retailer, V-Mart, has unveiled its plans of opening up 28 new stores. The plan is a part of its expansion strategy post IPO launch in February 2013. The new stores will be opened in Tier II and Tier III cities in order to penetrate further in these cities. The expansion has begun with Dehradun where it opens its first store.
The retailer will be expanding this number to 100 stores across the country by the end of FY’14. It will also open two more stores in Haridwar and Haldwani this year.
V-Mart opened its first retail outlet a decade back in 2003 in Ahmedabad. Currently it has 72 stores in 61 cities in north and west India, covering 5,88,920 sq ft of retail space.