V-Bazaar aims Rs.500 crore revenue in next three years
V-Bazaar aims Rs.500 crore revenue in next three years

Fashion and apparels retailer V- Bazaar Retail is eyeing Rs 500 crore revenue in the next three years as the company plans to add up to 45 new stores in tier II and III cities.

The company will invest between Rs 75-90 crore to open 40 to 45 new stores in tier-II and tier-III cities of Bihar, Jharkhand, Uttar Pradesh, Gujarat, Rajasthan and Uttarakhand, it said in a statement.

"We would add around 40-45 more stores by 2020 and take our store count to 56-57 by the end of FY 2019-2020," V-Bazaar Retail Chairman and Managing Director Hemant Agarwal said.

He further said: "For growth, as a strategy we are focusing on only tier-II and III places."

Currently, 40 per cent of the company's revenue comes from men’s apparel, 25 per cent from ladies apparel, 23 per cent from kids apparel and 12 per cent from general merchandise.

"The company would be investing around Rs 1.75 to Rs 2 crore in opening one new store and the investment would be through internal accruals," Agarwal said.

 
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