V2 Retail Ltd

V2 Retail Ltd

Vishal Retail Ltd is one of fastest growing retailing groups in India. The company offers a portfolio of products including apparel non-apparel and fast moving consumer goods. The company sells readymade apparels household merchandise and other consumer goods like footwear watches toys toiletries grocery items sports items crockery novelties and gifts. The company's subsidiaries include VRL Foods Ltd VRL Movers Ltd VRL Consumers Goods Ltd VRL Fashions Ltd and VRL Infrastructure Ltd.Vishal Retail Ltd offer affordable family fashion at prices to suit every pocket. Their outlets cater to almost all price ranges. The showrooms have over 70000 products range which fulfills all household needs. The cost benefit that is derived from the large central purchase of goods and services is passed on to the consumer.Vishal Retail Ltd was incorporated on July 23 2001 as Vishal Retail Private Ltd. In November 2001 the company acquired the proprietorship firm Vishal Garments & The Vishal Garments. In the year 2002 they opened their first store in Delhi. In the year 2003 the company acquired the manufacturing facilities from Vishal Fashions Private Ltd and Vishal Apparels as a going concern and set up a manufacturing unit in Gurgaon.In the year 2004 the company started their largest store at New Delhi having an area of 80000 sq ft. The company was converted to a public company on February 20 2006. During the year 2006-07 the company opened up three new stores at Patna in Bihar Karnal in Haryana and Dahisar in Maharashtra.During the year 2007-08 the company established five new companies namely VRL Foods Ltd VRL Movers Ltd VRL Consumer Goods Ltd VRL Fashions Ltd and VRL Infrastructure Ltd for diversifying the business operations. Also they set up their manufacturing units at Manesar and Dehradun with production capacities of 1.5 million pieces each per annum. With this the company is having three manufacturing facilities with total installed capacity of 4.5 million pieces per annum. During the year the company added 52 new stores out of which 34 were in Tier-III cities two in Tier-II cities and 16 in a Tier-I city. Also they added 9 warehouses with an area of 581640 sq ft taking the total number of warehouses to 29 spread across 1.1 million sq ft of space. Also they added a fleet of 40 trucks taking the total number of trucks in the fleet to 98. As on March 9 2009 the company had 182 stores spread across India.In March 2008 the company entered into a an agreement with Hindustan Petroleum Corporation Ltd in which Hindustan Petroleum Corporation Ltd will provide space to the company for either Retail store or Warehousing at their mutually selected retail outlets. The company opened two such stores on a trial basis and had plans to increase it to 20-25 stores.The company plans to open nine new formats two categories in apparel fashion mart and separate formats for menswear and women's wear restaurant & consumer durable as well. They are intending to open new stores through franchisee model to minimize the companies cost in opening up stores and minimize the risk. The company is also working in the feasibility of launching the convenience model (small formats through franchisee). These stores would have a size of about 800-2000 sq ft.