VISHAL STORYDefinitely Not acase of oncebitten twice shy!!!
Once bitten, not shy: There is always plan B for Vishal Retail
Presented by-Shivani Saxena(2k10MKT28)
The Indian organisedretail industry is valued atabout 300 $ billion.
The overall Retail Market in India is likely togrow at a rate of 5.5 % to about 16,77,000 Cr by2015.
The Organised retail market is expected to growmuch faster at a rate of 21.8 % to Rs 2,46,000 Cr.Major Retailers:(Reliance Retail,Future Retail,ShoppersStop,Westside,Globus«)
VRPL was incorporated on July 23, 2001 under the CompaniesAct, 1956 as Vishal Retail Private Limited. VRPL was converted toa public limited company on February 20, 2006.
With a business purchase agreement executed between VRPL andM/s Vishal Fashions Private Limited , the business ofmanufacturing of readymade garments as a going concern witheffect from March 31, 2003 was also acquired. VRPL went intobackward integration by acquiring a manufacturing unit forreadymade garments.
Vishal Retail soon came to be known as one of India·s leadingvalue retailers promoted by Mr. Ram Chandra Agarwal.
Its focus was mainly on Tier 2 and Tier 3 cities and towns,catering to the middle class and lower income level consumers.
It garnered a strong presence in manufacturing and retailingapparel, non-apparel and a large variety of branded FMCGproducts.
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