V2 Retail remains committed to its value-driven model with “no plan to premiumise our collection”. Instead, it has chosen to unify its labels under one brand.
“It’s called No Brand Only Fashion, NBOF. It is a bold statement. We’re informing India that you no longer required a brand tag to be cool,” he declared.
“We want to focus on this segment becautilize the cost of manufacturing a garment versus what people purchase it for, there’s a huge gap in the market and we’re attempting to bridge that gap,” the whole-time director declared.
Agarwal declared there are no plans to significantly raise prices beyond inflation. “The current ASP (average selling price) is around Rs 300. So, it should shift according to inflation. So, nothing significant; it will be a nominal growth.”
“We can easily do 3,000 stores in the same model,” he added.
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