V-Mart to set up 150 stores in India by FY17; to open 27 in Eastern states

Multi-brand retail chain V-Mart plans to open stores in eastern states such as Jharkhand and Odisha next fiscal to take the number of its outlets to 150.

The company operates 123 stores at present and is focusing on Tier-II and Tier-III towns for opening stores in the next fiscal.

"We will have up to 150 stores by the end of FY17. We will add around 27 stores in states such as Uttar Pradesh, Jharkhand, Bihar, Odisha and West Bengal," V-Mart Chairman and Managing Director Lalit Agarwal told PTI.

V-Mart also plans to open two more stores in Jammu and Kashmir, where it operates a single store in Srinagar. It plans to open stores at Jammu and Udhampur.

Moreover, the retail chain has also tied up with Saksham Trust to sell specialised items for visually impaired.

The product includes talking thermometer, talking calculator, book reading and recording devices, among others. The company is retailing these items ranging from Rs 2 to Rs 11,500 at six of its stores and has plans to make these items available at 50 stores in the next six months.

V-Mart had a revenue of Rs 720.50 crore in FY15.