V2 Retail Ltd.value fashion chains, offering apparel for men, women, and children, opened 24 new stores across 11 states in August, taking its total store count beyond 415 across more than 345 cities.
According to the company this was its highest number of store openings in a single month.
The new stores added nearly 200,000 sq. ft. of retail space across markets in Tier-II, Tier-III and Tier-IV cities. The expansion included locations such as Malkangiri in Odisha and Banka in Bihar, along with a store in Bengaluru.
The company said the August expansion is expected to create close to 1,000 direct jobs, with around 40 employees per store. V2 Retail has also set a broader target of generating more than 10,000 direct and indirect jobs annually through its store expansion programme.
The latest openings follow the company’s recent milestone of crossing 400 stores. V2 Retail had previously opened five and six stores on a single day as part of its expansion strategy.
Akash Agarwal, CEO, V2 Retail Ltd. stated that “August was about proving we can sustain pace, not just spike it. Following our strong Q1 financial trajectories where revenue surged 58% YoY, we are firmly targeting 170 to 200 new stores this fiscal, largely in Tier-II and Tier-III markets”.
He added that the expansion is being funded through internal accruals and cash flows, without equity dilution. The company is also investing in supply chain digitalisation to support its store expansion.
Ram Chandra Agarwal, Founder, V2 Retail Ltd., said the August rollout involved coordinating real estate, hiring and inventory across different markets.
