V-Mart Retail Franchise
Not a franchise: listed V-Mart Retail runs all its 613 value-fashion stores itself (Sep 2026) and offers no franchise, partner or dealer route.
V-Mart Retail is not taking franchisees in India
This page is here so you can research the brand and compare it with others — it is not a franchise offer. Anyone selling a "V-Mart Retail franchise" to you is not authorised by the brand. See the note below for how the brand actually runs its stores.
About This Listing
V-Mart Retail does not sell franchises. Its FY2025-26 integrated annual report describes a network of 577 V-Mart and Unlimited stores that the company runs itself, and neither the report nor V-Mart's website offers any franchise, partner or dealer route. FranchiseChuno found no V-Mart franchise programme, so treat any offer of a 'V-Mart franchise' with suspicion.
Source: V-Mart Retail integrated annual report FY2025-26 and V-Mart website (checked 4 Oct 2026)
V-Mart Retail franchise at a glance (terms checked Oct 2026)
Investment
Not franchising
Ongoing take
Not published
Franchise fee
Not published
Payback
Not published
- Disputes with franchisees: None found (records checked Oct 2026)
- Profit or loss: Profit of ₹124 Cr in FY26
- Revenue trend: +16% revenue FY25→FY26
Franchisor strength isn't franchisee profit — check real outlet numbers.
Outlets
607 verified
Brand claims 613
What we couldn't verify
- • Outlet closures
- • Franchisee satisfaction
- • Network growth
- • Ongoing take
Ask before you sign
- Get written confirmation that V-Mart Retail is taking franchisees at all before paying anything — see the note at the top of this page.
- Ask for the one-time franchise fee in writing, and whether any part is refundable.
- Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
Franchise terms checked against V-Mart Retail integrated annual report FY2025-26 (V-Mart has no franchise page) on 3 Oct 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.
Reputation & News
1 red flag to checkWhat the press, courts and real franchisees or customers have said about V-Mart Retail — summarised by us, with every source linked.
- In the news· Jul 2026
Loss in FY2023-24
V-Mart's five-year summary shows a ₹96.8 Cr loss in FY2023-24 and a ₹7.9 Cr loss in FY2022-23, before profits of ₹45.8 Cr in FY2024-25 and ₹124 Cr in FY2025-26.
Source: V-Mart integrated annual report FY2025-26 (the brand's own site) - employee_opinion· Oct 2026★ 3.9/5 · 2,800 ratings
AmbitionBox employee rating
Employees rate V-Mart 3.9 out of 5 from about 2,800 reviews.
Source: AmbitionBox - employee_opinion· Jun 2026★ 3.8/5 · 39 ratings
Indeed employee rating
Indeed shows 3.8 out of 5 from 39 reviews; pay and benefits score lowest at 3.3.
Source: Indeed India - In the news· Jul 2026
Q1 FY27: 591 stores, revenue up 23%
Business Upturn reported, from V-Mart's exchange filing, revenue of ₹1,089 Cr for Apr–Jun 2026, same-store sales growth of about 9%, 15 stores opened and one closed.
Source: Business Upturn
Show 2 moreShow fewer
- Legal / regulatory· Sep 2024
Trade-mark suit against V-Mega Stores
V-Mart sued V-Mega Stores in a Delhi commercial court in Sep 2023 for trade-mark infringement and passing off (CS(COMM) 361/2023); the case was pending at the last order read (Sep 2024).
Source: Delhi High Court order via Indian Kanoon - In the news· Oct 2026
Q2 FY27: 613 stores, revenue up 18%
Apparel Resources reported V-Mart's Q2 FY27 update: revenue of ₹953 Cr for Jul–Sep 2026, up 18%; same-store sales growth of 3% (11% after adjusting for a later Navratri); 23 stores opened and one closed, for 613 stores.
Source: Apparel Resources
Legal & Contract Summary
Key contract terms at a glance — read before you sign.
Agreement Type
Company-Owned, Company-Operated
Contract Duration
—Renewal Available
—Territory Exclusivity
—Non-Compete Clause
—Exit Clause
—About the Brand
Brand USP
V-Mart Retail is a listed value-fashion chain that runs all of its 613 stores (Sep 2026) itself, mostly in tier II–IV towns; it sells no franchises.
Why invest in V-Mart Retail?
V-Mart Retail by the Numbers
Source marked on each figure613 (company-run)
Stores · 30 Sep 2026
Brand claim28 states and union territories, 328 cities
Presence · 31 Mar 2026
Brand claimAbout 50 lakh sq ft
Retail space · 31 Mar 2026
Brand claim79%
Apparel share of revenue · FY2025-26
Company filing66%
Private-label share of revenue · FY2025-26
Brand claimV-Mart Retail Outlet Network
| Year | Opened | Closed | Transferred | Net |
|---|---|---|---|---|
| FY2025-26 | 92 | — | — | — |
| FY2024-25 | 62 | — | — | — |
| Apr–Jun 2026 | 15 | 1 | — | +14 |
| Jul–Sep 2026 | 23 | 1 | — | +22 |
Outlet count over time
- 31 Mar 2026577
31 Mar 2026 · vmart.co.in
- 30 Jun 2026591
30 Jun 2026 · vmart.co.in
- 30 Sep 2026613
30 Sep 2026 · vmart.co.in
By city tier · 31 Mar 2026
- Tier II and III towns378
- Tier I and IV towns199
By format · 4 Oct 2026
- V-Mart stores on locator505
- Unlimited stores on locator102
Cities with Outlets
Show all 63 citiesHide the city list
Company Financials
Brand-level, publicly reportedThe franchisor's own company health — separate from what a single franchise outlet earns.
Revenue (FY26)
₹3789.36 Cr
Net profit (FY26)
₹124 Cr
Employees (FY2025-26 (annual report))
13,929
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Health Check
What V-Mart Retail's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.
- Status with the registrar
- Active
- Annual filings
- Up to date
- Last AGM
- 29 Jul 2025 (latest on MCA record via Tracxn; the 24th AGM was called for 30 Jul 2026)
- Pending cases against it
- 0
- Pending cases it filed
- 0
- Late payments to small suppliers
- 629470827
- Paid-up capital
- ₹79.46 Cr
- Auditor
- S.R. Batliboi & Co. LLP
- Brand trademark
- Registered: 'V Mart' word mark in class 25 (no. 4781620) and device marks in classes 25 and 35 (e.g. 1895329, 4834671); several other V Mart applications are opposed or objected.
Source: V-Mart annual report FY2025-26; MCA data via Tracxn; Indian Kanoon (checked Oct 2026)
Full company recordsFinancials year by year, registered details, leadership and timelineShowHide
V-Mart Retail Financials Over Time
Figures for the brand, from filed or reported accounts.
Source: V-Mart Retail integrated annual report FY2025-26 (five-year summary)
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Profile
The legal entity behind the brand, its leadership, and its official channels.
- Registered name
- V-Mart Retail Limited
- Company type
- Public Limited Company (listed)
- CIN
- L51909DL2002PLC163727
- Incorporated
- 24 Jul 2002
- Headquarters
- Gurugram, Haryana
Leadership
- LLalit AgarwalFounder and Managing Director
- MMadan Gopal AgarwalWhole-time Director
- AAakash MoondhraChairperson (non-executive)
- AAnand AgarwalChief Financial Officer
Social presence
Company details source: MCA data via Tracxn; V-Mart annual report FY2025-26
V-Mart Retail Timeline
Jul 2002
Incorporated
Set up as Varin Commercial Pvt Ltd; first store opened in Gujarat in 2003.
2008
Became a public limited company
Received private-equity investment from Naman Finance (Aditya Birla Capital).
2013
Listed on the stock exchanges
2021
Raised ₹375 Cr through a QIP
2022
Acquired 74 Unlimited stores
Expanded into south India under the Unlimited name.
2023
Acquired LimeRoad
Mar 2026
577 stores, 50 lakh sq ft
92 stores opened in FY2025-26.
Jun 2026
591 stores
15 opened and one closed in Apr–Jun 2026.
Sep 2026
613 stores
23 opened and one closed in Jul–Sep 2026.
FranchiseChuno Analysis
Our analysis of verified dataHow V-Mart Retail looks once the numbers are checked side by side.
- ✓The franchisor company is profitableIts latest filed accounts show a net profit. That's the franchisor's money, not yours: a profitable franchisor doesn't mean its franchisees make money. Check real outlet numbers before you invest.
- ✓Brand operating for 24 yearsFounded in 2002. The brand doesn't state when franchising began.
- ✓Outlet claim matches its store locator607 outlets on its own store locator (4 Oct 2026 (505 V-Mart stores on stores.vmartretail.com + 102 Unlimited stores on unlimitedstores.vmartretail.com; corporate office excluded)), in line with the 613 it claims.
Data completeness
55%
- ✓ Terms checked against the brand's own page
- ✓ Published investment (not an estimate)
- â—‹ Franchise fee
- â—‹ Royalty
- â—‹ ROI or payback claim
- â—‹ Agreement term
- â—‹ Training details
- ✓ Outlet cities verified
- ✓ Company financials
- ✓ Legal entity
- ✓ News & public opinion checked
Ask Before You Sign
Questions tailored to what V-Mart Retail does and doesn't publish.
- 1Get written confirmation that V-Mart Retail is taking franchisees at all before paying anything — see the note at the top of this page.
- 2Ask for the one-time franchise fee in writing, and whether any part is refundable.
- 3Ask for the royalty and any marketing-fund fee, and how they're calculated (on sales or profit).
- 4Ask for the agreement term, renewal fee and exit or transfer terms.
- 5Ask whether you get an exclusive territory, and how large it is.
- 6Have a lawyer review the franchise agreement before paying anything.
- 7Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShowHide
Operations Required
What you'll need on the ground to run this franchise day-to-day.
Area Required
—
Staff Needed
—
Setup Time
—
Owner Involvement
—
Best Locations
Not published
Business Type
Not published
Training & Support
What the brand provides to help you launch and run your franchise.
Training Cost
Covered by franchisor
Operations Manual
Step-by-step playbook for running the outlet
Supply Chain Support
Vendor sourcing, inventory & logistics
Technology / POS
Billing, inventory, and management software
Marketing Support
National & local marketing campaigns
Launch Support
Pre-opening setup and grand-opening assistance
Ongoing Field Support
Regular visits and operational coaching
What V-Mart Retail franchisees say
We haven't yet heard from enough V-Mart Retail franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.
I run a V-Mart Retail outlet — share how it went
