New Delhi: Aiming to increase its turnover five-fold by 2010, retail major V-Mart is looking at doubling the number of its stores and focussing more on private labels with an investment of Rs25 crore.
“We have currently 52 outlets of our two formats, including 37 hypermarkets of our flagship V-Mart brand and 15 V-Galz stores catering to women’s western-wear. Our plan is to nearly double our store size in the two formats to touch a figure of 100 by end of 2010,” V-Mart Managing Director Lalit Agarwal said. The money from the project would come from internal accruals.
The Rs100 crore company is also seeking to increase the share of its private labels from 25% to 30% of the company’s overall sales during the period.
V-Mart has around a dozen private labels in the apparel category including J-White (men’s formal), Charcoal (men’s casual), Jinxx (women’s casual) and Groovy Kids, besides FMCG labels like Fresh and Clear and Kirana Bazaar and accessory labels including Crux.
“We are planning to launch more labels next month on products like corn-flakes and sauces,” Agarwal added.