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The retailer’s total number of stores stood at 160 as of December 31, 2024, following the opening of 21 new outlets during the quarter. This expansion increased the company’s retail footprint to approximately 17.22 lakh square feet.
For the nine months ending December 31, 2024 (9M FY25), V2 Retail’s revenue from operations rose 59% year-on-year to ₹1,385.19 crore, exceeding its full-year revenue for FY24. The company recorded an SSG of 31% during this period.
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The sales per square foot per month (PSF) reached ₹1,069 for 9M FY25, marking a significant improvement from ₹862 in 9M FY24. V2 Retail opened 45 new stores and closed two during the nine-month period.
V2 retail is present in 18 Indian states with 128 highly fashionable operational stores. It claims to be leading the significant shopping experience to various small towns and cities like Patna, Varanasi, Guwahati, Itanagar, Bhubaneswar and many more.
Last year in October, Akash Agarwal, Whole-time Director of V2 Retail, shared that “V2 Retail’s plan is to open 50 new stores this year which will help us align with our growth strategy and help us to continue our focus on expanding our footprint. Some of the cities where this expansion will happen include—Bhopal, Jaipur, Visakhapatnam, Gorakhpur, and Jamshedpur.”
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Noting that consumer spending is increasing in tier-2 and tier-3 cities, Agarwal shared that the expansion will be in these regions. “We see a high potential in Tier 2 and Tier 3 cities. These locations presently are untapped opportunities, where demand for quality fashion at affordable prices is increasing.”
Shares of V2 Retail Ltd ended at ₹1,651.00, down by ₹36.55, or 2.17% on the BSE.
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