V-Mart Retail Ltd. was founded in 2002. V-Mart is a complete family retail store chain offering apparel, footwear and accessories for men, women and kids. The company also offers a wide range of home furnishings, general merchandise, toys, tableware, utensils, and other home utility items. In 2018, V-Mart Retail was adjudged the world’s best performing departmental store, as per data compiled by Bloomberg. In 2019, the company was bestowed with the 'Transforming India Through Retail' award for 'Transforming lives in Tier II and III cities' by Ministry of Textiles, Govt. of India.
Business area of the company
The company is engaged in the business of retail trade. The company is into business of apparels for Men, Women, Girls, Boys. It is also into Home decor and Kirana Bazar.
V-Mart has internally created 4 divisions/formats
V-Mart Aspire - This format caters to the young generation and hence the focus of the company is to provide GEN X latest trends in fashion. The target customers are the youth and hence the designers in the company study the market trend to purchase and stock the merchandise accordingly.
V-Mart Plus - These stores cater to all the age groups and serve the basic needs of customers and provide contemporary fashion as well. Since the store serves customers of all age group and across the sections of the society, the company stocks the merchandise accordingly. These stores are normally in an area where the target customers range from kids to senior citizens.
V-Mart Corporate - These stores are targeted at customers from the age group 22-25 years and serve their contemporary fashion needs. The merchandise in these stores are specifically for office going individuals, both male and female and this line has been internally termed by the company as Gold Line Fashion. These stores are located in areas where the population mostly comprises of working professionals.
V-Mart Values - These stores cater to all age group formats focusing on basic needs keeping in mind the economic status of the region where the store is situated. But along with providing low cost products with good fashion, the quality of the products is not compromised on and the company provides value for money while manufacturing/purchasing low cost products.
V-Mart was recognised by Bloomberg as the “World’s best performing department store chain this year” in April 2018.
V-Mart was recognised by progressive Grocer as the “Value retailer of choice” in 2018”.
Chairman & Managing director of the Company, Mr. Lalit Agarwal, conferred as the ‘Retail Leader of the Year 2018’ by Franchise India”.
In Jan 2019 V-Mart was bestowed the 'Transforming India Through Retail' award, for 'transforming lives in Tier II & III cities' by the Honorable Union Minister of Textiles.
The Company was also bestowed with the Retail Champion Award for Apparel & Lifestyle by Retail Association of India.
The Company was recognised in 2018 as The World’s Best Performing Department Store as per Bloomberg data. Lalit Agarwal, the Chairman and Managing Director was also conferred the award of the ‘Retail Leader of the Year-2018’ by Franchise India.
The Company was the 2018 Winner of “Best Practice in Learning Transfer for Improving Business Bottom Line” at the World HRD Congress.
Most Admired Affordable Retailer in Visual Merchandising Concept at IFA- Images Fashion Awards.
V-Mart Certified as a ‘Great Place to Work’ by the Great Place to Work (GPTW) Institute, India.
Award from RSLDC (Rajasthan government) for Best Project Implementation Agency in the Skill Development Programme.
2002: Incorporated as Varin Commercial Private Limited.
2003: Launched the maiden store in Gujrat.
2004: Established its maiden store in New Delhi.
2006: Renamed V-Mart Retail Private Limited; crosses 100,000 square aggregate feet in retail space.
2008: Converted from a private limited to public limited company; secured private equity funding from Naman Finance (Aditya Birla Group) and DB Corp Limited.
2011: Crossed Rs 2000 million turnover; declared a dividend of 4%.
2012: Crossed 500,000 square feet in retail space; extended its presence to more than 50 cities; granted 153,252 ESOPs; declared a dividend of 4%.
2013: Made a pre-IPO placement of 12,50,000 equity shares; made a public issue of 44,96,000 equity shares; issue oversubscribed 1.2 times; attracted marquee institutional and HNI investors.
2014: Opened 23 new stores across 190,000 square feet; invested in infrastructure; achieved incremental footfall was 32%.
2015: Consolidation of distribution centres; launched vendor portal; stores crossed 100 to 108 (8.82 lac square feet); corporate office relocated to Gurugram; Board was reconstituted.
2016: Ventured into two new states (West Bengal and Odisha); opened 17 new stores (from 108 in FY15 to 123 in FY16); integrated vendor portal and advanced warehouse management system.
2017: Crossed Rs 1000 cr of revenue, Best Short-term ICRA rating A1+.
2018: Ventured into Tier IV towns; Private label business grows to 50 per cent.
2019: The Company launched its omni channel platform in Oct, 2019 and has subsequently expanded it across its store network.