Value fashion retailer in India launches 200th store
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V-Mart, the world’s best performing department store chain in 2018 as per data compiled by Bloomberg, launched its 200th store in Mughalsarai, Uttar Pradesh. With this landmark achievement, the company has opened a total of 29 new stores in the current fiscal year so far.
Earlier this month, the company launched its 198 th and 199 th store, both also in UP, at Kannauj and Naubasta near Kanpur, respectively.
Marking the significance of this milestone for the company, Lalit Agarwal, CMD of V-Mart said, “We remain focused on strong execution, riding on the back of our proven cluster-based expansion model. The 200th store is a key milestone for V-Mart, more so, because we have added the last 100 stores in
three years, while we took twelve years for the first 100. This demonstrates accelerated customer demand and V-Mart’s ability to translate that into all-round value creation.”
With the 200th store launch coming just ahead of Christmas and New Year, V-Mart has planned a grand celebration campaign at select locations, starting with Kannauj and Mughalsarai, to bolster the festive spirit among its customers. At both the locations, the company is organizing a ‘Mela’ in large open fairgrounds, inviting the general public to enjoy an eclectic mix of food, fun and entertainment.
The event in Kannauj, organized with complete support from the local administration, received tens of thousands of attendees enjoying music, folk performances, choreographed shows, fun rides, and delectable street food.
Snehal Shah, SVP, Projects and Marketing, said, “V-Mart has always endeavored to createlasting value and moments of happiness for its customers. These celebrations are a small way of saying thanks to our customers who have made this milestone possible.”
Questions & Answers
Q.How many new stores has V-Mart opened this fiscal year, including the new 200th branch?
How many new stores has V-Mart opened this fiscal year, including the new 200th branch?
V-Mart has opened a total of 29 new stores during the current fiscal year. This figure includes the recently launched 200th store in Mughalsarai, Uttar Pradesh, and two others earlier this month.
Q.What is the key difference in the pace of V-Mart's store expansion over time?
What is the key difference in the pace of V-Mart's store expansion over time?
The company added its last 100 stores in three years, indicating a much faster expansion rate. In contrast, it took V-Mart twelve years to open its initial 100 stores, showing a significant acceleration.
Q.What is the purpose of the grand celebration campaign planned by V-Mart?
What is the purpose of the grand celebration campaign planned by V-Mart?
The campaign, including 'Mela' events, is planned to bolster the festive spirit among customers ahead of Christmas and New Year. These celebrations also serve as a way of thanking customers for their support.
Q.Where were the 198th and 199th V-Mart stores launched earlier this month?
Where were the 198th and 199th V-Mart stores launched earlier this month?
The 198th store was launched in Kannauj and the 199th store in Naubasta near Kanpur. Both of these locations are within Uttar Pradesh, like the 200th store.
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