V2 Retail
What it means
Our read: Existing stores add at most 0.5 of the 28.4 points of revenue growth.
Reported: Revenue +28.4% but same-store sales +0.5% in Q2 FY27.
Watch: Q3 FY27 results, due by 14 Feb 2027 — same-store sales growth below Q2's 0.5%.
Before its full results, due by 14 Nov:Before then:
- Affected
- Mall and high-street landlords behind its 49 new stores in the same quarter () — a tenant that must keep openingDo now: By 14 Nov: negotiate rent and lease length from strength; it needs new sites to keep this pace.
- V2 Retail's apparel vendors and fabric mills — orders that grow with each openingDo now: By 14 Nov: tie volume terms to its openings, not to its same-store sales.
- Trent — new stores near theirsDo now: By 14 Nov: benchmark your same-store growth against V2 Retail's same-store figure, not its headline growth.
Our arithmetic · not a reported figureChange
- +₹200 crorefrom Q2 FY26 standalone revenue to Q2 FY27 standalone revenue
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
Footprint: where V2 Retail opened
1 store opening on record since May 2026; 1 announced plan.
Background
From 10 stories, the newest dated 5 Oct 2026. Summary written 6 Oct 2026.
V2 Retail is an Indian value-fashion chain that is self-funded and focuses on Tier-II and Tier-III markets.[1] source: IMAGES Business of Fashion
Show 3 more paragraphs and 10 sources
It had more than 415 stores in more than 345 cities after opening 24 stores across 11 states in August 2026, its highest monthly opening count.[2] source: Apparel Resources India Mint reported FY26 revenue of ₹3,067 crore, up 63% year-on-year.[3] source: Mint
V2 Retail reported Q2 FY27 standalone revenue of Rs 905 crore, up 28.4% from Rs 705 crore in Q2 FY26, with 49 stores added.[4] source: Apparel Resources India In October 2026 it cut its FY27 same-store sales growth guidance to 5-7% from 8-10%.[5] source: Mint It kept its FY27 revenue growth guidance at more than 50% after growing around 42% in the first half.[6] source: CNBC-TV18 It has opened 106 stores and signed leases for 104 more.[6] source: CNBC-TV18 Mint reported a plan to add 170–200 stores in FY27.[3] source: Mint CNBC-TV18 reported that internal accruals can fund about 150 stores and that a faster rollout may require ₹100-200 crore of additional debt.[7] source: CNBC-TV18
Motilal Oswal initiated Buy coverage on V2 Retail in September 2026.[8] source: NDTV Profit V2 Retail cited cost pressure from minimum-wage revisions.[9] source: Financial Express In Q2 revenue, V2 Retail grew 28.4% while V-Mart rose 18% to Rs 953 crore and Baazar Style fell 10%.[10] source: NDTV Profit
Sources
- V2 Retail Q2 FY27 standalone revenue rises 28.4% to Rs 905 crore on 49 new stores
- DMart grows revenue 18.4% but value retail stocks slide as V2 Retail cuts same-store sales guidance
- V2 Retail holds FY27 revenue growth target above 50% despite weaker same-store sales
- DMart Q2 revenue up 18.4% to Rs 19,206 crore; V2 Retail grows 28.4% while Baazar Style falls 10%
Questions about V2 Retail
How many V2 Retail stores are there?
V2 Retail had more than 415 stores in more than 345 cities in September 2026, after opening 24 stores across 11 states in August 2026.[2] source: Apparel Resources India
How fast is V2 Retail growing in India?
V2 Retail reported Q2 FY27 standalone revenue of Rs 905 crore, up 28.4% year-on-year from Rs 705 crore in Q2 FY26, supported by the addition of 49 stores.[4] source: Apparel Resources India
What is V2 Retail's current strategy in India?
V2 Retail opened 24 stores in August 2026.[2] source: Apparel Resources India It planned 170–200 new FY27 stores in September 2026.[3] source: Mint In October 2026 it held its FY27 revenue growth guidance above 50% and cut same-store sales growth guidance to 5-7%.[5] source: Mint[6] source: CNBC-TV18