V - Mart was first incorporated as Varin Commercial Private Limited under the Companies Act in 2002 in West Bengal. V-Mart Retail is one of the pioneers in setting up stores across various small Indian towns and cities including Sultanpur, Ujjain, Motihari. The company primarily operates in Tier-II and Tier-III cities, with a chain of ‘value retail’ departmental stores offering apparels, general merchandise and kirana, catering to the entire family. Based in New Delhi, the company operations are spread across northern, western and eastern parts of India.
In October, 2003 the company opened its first store by the name of ‘V-Mart’ at Ahmedabad, Gujarat, and currently owns and operates 62 stores spread across 53 cities and 10 states and union territories, with a total area of 5.06 lakh Sq. ft. The company’s stores are located in New Delhi, Gujarat, Uttar Pradesh, Bihar, Punjab, Chandigarh, Haryana, Jammu and Kashmir, Rajasthan and Madhya Pradesh.
The company established stores in Metro, Tier-I, Tier-II and Tier-III cities which are primarily located as standalone stores in high-street areas and shopping hubs of such cities. The average size of the stores is approximately 8,000Sq. Ft. The company follows the concept of value retailing to target the strata of the population belonging to the expanding aspiring class and middle class based on its customer’s socio-economic conditions, purchasing power, demographic details and customer trends. The company’s offerings in untapped markets provide its customers with a different shopping experience, comprising of a vast range of value retail products under a modern ambience and feel of a large retail mall.
The company’s business can be classified in three business verticals: Apparels, General Merchandise and Kirana Bazaar. Its 39 stores are ‘Mini Hyper Stores’ retailing apparels, general merchandise as well as kirana and 23 stores are Family Fashion Stores which are focused on apparels and general merchandise. The company sources its products, including private labels, directly from the regions where such products are widely available or manufactured, to minimize its procurement costs and offer quality products at such costs. The company’s strong sourcing capability is backed by an efficient logistics network, which is supported by strong IT infrastructure, systems and processes, thus enabling the company in achieving its concept of value retailing.
V-Mart has internally created 4 divisions/formats
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.
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.
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.
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.
The company is into business of apparels for Men, Women, Girls, Boys, It is also into Home decor and Kirana Bazar