MUMBAI, October 17, 2017 /PRNewswire/ --
Lighthouse, a middle market private equity firm focused on growth investments in India's consumer sector, announced today that funds affiliated with the firm have made an investment of INR 760 million in V2 Retail Ltd ("V2 Retail" or the "Company"), one of India's fastest growing, pure play apparel value retailers. The investment will be used to accelerate V2 Retail's store expansion plans.
V2 Retail provides a one-stop apparel shopping solution for the complete family, offering a wide, diverse range of apparel at everyday affordable prices. The Company caters to the aspirational, but value-focused retail consumer, who otherwise had to resort to smaller, unorganised outlets for his or her apparel needs. For FY17, the Company achieved revenue of approximately INR 4.7 billion, representing a CAGR in excess of 60% over the last five years. Currently, the Company has 44 stores across 13 states in India and targets reaching a store count of 100 in the next two to three years.
Mr. Ram Chandra Agarwal, Chairman and Managing Director of V2 Retail, shared, "We were highly impressed with Lighthouse's track record of investing in and building leading branded, consumer companies, and believe their assistance will be invaluable for us going forward. We plan to further penetrate in our core markets, such as Bihar and Uttar Pradesh, due to large number of high potential Tier II and III cities, which remain significantly underpenetrated in terms of organized retail."
"We have been witnessing a structural change in the Indian retail landscape over the past few years, and are very excited to partner with V2 Retail. We have great confidence in Ram Chandra Agarwal, the pioneer of value retailing in India, and his team, and believe that the next few years will be transformational for the Company," said Sachin Bhartiya, Partner, Lighthouse Advisors. He added that India has added more than 400 million consumers into the middle-income bucket over the past 15 years. It is this bucket which is driving consumerism in India and V2 Retail is well positioned to cater to this aspiration which presents a strong tailwind for growth.
About V2 Retail
V2 Retail Limited, signifying 'Value' & 'Variety', is one of India's fastest growing pure play value apparel retailers with a focus on Tier II & Tier III cities where there is low penetration of organised retail. The Company currently operates 44 stores spread across 13 states in India with a total retail area of 0.5 million sq. ft. Bihar and Uttar Pradesh are their core markets. The Company is headquartered in New Delhi.
About Lighthouse
Lighthouse is a leading middle market private equity firm focused on growth investments in India's consumer sector. The firm's current and past investments include Bikaji Foods, Capital Trust, Cera Sanitaryware, Dhanuka Agritech, FabIndia Overseas, Kama Ayurveda, Suraksha Diagnostic, Unibic Foods and XSEED Education.
For more information, please visit http://www.lhfunds.com.
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