Fashion and apparels retailer V2 RetailBSE 3.79 % has set an aggressive expansion target of doubling its retail presence to 100 outlets by the end of the next fiscal.
The value-focused retailer, which mostly has presence in tier II and III cities, is also looking at achieving a compound annual growth rate of 40 per cent for the next 2-3 years.
“Our target is to have a network of 100 stores by March 2019. We have cash with us…our only challenge will be to find good/profitable locations,” Akash Agarwal, Director of V2 Retail, told analysts in a concall.
V2 Retail, which at present has 48 operational outlets across the country, has already identified almost 40 new store locations.
Agarwal said the company is also focusing on increasing revenue contributions from its private label brands.
“At present, private label brands contribute to 15 per cent of total sales, we are looking at taking it to 35 per cent