Retail store operator V2 Retail Ltd. plans to open 1,000 stores in next five years and touch 100-store mark in the current financial year.
The company, which is currently operating 57 stores opened eight new stores so far during the current quarter and plans to open about six-seven new stores this month, its Director Akash Agarwal told BloombergQuint in an interaction.
“The company has a turnover of Rs 10 crore with 10 percent operating margins. We are looking to increase revenue contribution of private labels by nearly 35 percent and expect to expand its margins to 11 percent,” he said.
Watch the full interaction here: