V-Mart plans to open 8-9 hypermarkets

City-based retail player V-Mart said on Sunday it plans to open 8 to 9 hypermarkets this year as it resumes expansion after a one-and-half year slowdown-induced hiatus.

The company also said it is looking to focus more on sportsware retailing in the run-up to the Soccer World Cup in South Africa and the Delhi Commonwealth Games to capitalise on the growing craze for sports merchandise.

“The last year and half was one of consolidating our business which also entailed a halt on our expansion. Now we are again expanding our retail chain and will add 8-9 hypermarkets by December,” V-Mart Managing Director Mr Lalit Agarwal said.

He said the company will invest Rs 10 crore for the project and open the new outlets in smaller cities, like Srinagar and Aligarh, to tap the emerging customer segment.

V-Mart, currently, operates 51 hypermarkets across the country, which caters to diverse product segments, including food and grocery, fashion, footwear, home products and so on.

“We are basically looking to tap small town consumers who have money and a craze for good quality stuff but lack options. The hinterland is a big virgin market,” Mr Agarwal said.

V-Mart is also bringing out a range of sports gears and merchandise in the run-up to this month’s Soccer World Cup and the Commonwealth Games in Delhi in October.

“The sports merchandise market in India is going to witness a lot of activity over the next 4-5 months. In line with this, we are expanding our line with products like logos, posters and other accessories,” he said.

The retail major is also going to roll-out schemes for giving out sports merchandise free with regular shopping items at its outlets, Mr Agarwal added.