Fastest Growing Companies 2015

The hinterland winner

A strong presence in non-metros, right products and a watchful eye on costs have helped V-Mart survive in a tough retail market

Photographs by Vishal Koul

The problem is not in the retail segment but our approach to it,” a smiling Lalit Agarwal candidly confides when talking about the unusually high mortality rate in the country’s organised retail sector. In a business segment marked by wafer-thin margins, unrealistic rentals, indebtedness and high employee costs, Agarwal and his 12-year-old value retail chain V-Mart have managed to beat the odds by picking the right locations, getting the product mix and pricing right and keeping costs low.