‘The world’s best-performing department store, 2017-18 according to Bloomberg V-Mart is one of India's leading retail companies. With annual sales of $188 mn(FY 2017-18), its 171 stores covering 1.4 mn sq ft attract an annual footfall of close to 30 million in metros, Tier 1,2,3 and 4 cities across North, Central and Eastern India
Focused on Fashion, lifestyle and grocery products V-Mart positions itself as a Value for Money brand for its loyal customer base.
V-Mart places a premium on a robust Balance Sheet, relative under-borrowing, growing footprint, informed understanding of what sells fastest, ability to rotate inventory faster and enhance overall margins/surpluses available for reinvestment into more outlets.
Opportunity - V-Mart has been intending to extend its carefully controlled market experience to the online space. Since 2016 the company has been planning to create an online footprint which however has been put to the backburner in favour of the aggressive offline expansion it focused on.
The company had been looking for a technology partner who understood the Value space they were operating. Clues Network Technology has optimised its technology and operations on ShopClues marketplace for India's value consious consumer in Tier 1,2 and 3 markets. Synergies with ShopClues' geography, category, assortment, selective sourcing and Value For Money consumer focus made CNT a natural choice for a technology partnership.
Solution - CNT is currently working on building V-Marts Mobile compatible website, android and ios app, omnichannel fulfilment, catalog, payments capabilities for V-Mart. We are also looking at extending our expertise in logistics, customer support and digital marketing.
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