Akash Agarwal, whole-time director of V2 Retail speaks about his professional challenges and accomplishments in the retail industry
Bengaluru: Fashion and lifestyle retail chain V2 Retail’s story traces back to its roots as Vishal Megamart, which was founded in 2001 by Ram Chandra Agarwal. In 2011, the founder sold the venture for Rs 70 crore to TPG group while it had almost 180 stores. Utilising the proceeds from the sale, he embarked on a fresh venture in the same year, laying the groundwork for what would evolve into V2 Retail.
Since its inception, V2 Retail has continued to expand its presence across India, offering a range of products across categories such as apparel, accessories, home furnishings and more. Starting with its first 10,000 sq. ft. store in Jamshedpur, V2 Retail has grown to operate 135 stores across 18 states, now managing over 1.4 million sq. ft. of retail space. Its widespread presence includes five stores in Delhi-NCR, 30 in Bihar, 27 in Uttar Pradesh, 20 in Odisha, and more in various other states.
Aiming to expand to over 250 stores nationwide, the company is on an aggressive growth path, currently experiencing a 30% year-on-year increase in store count.
Leading the expansion is Akash Agarwal, the founder’s son, who started his career with V2 Retail 12 years ago as a management trainee, gaining practical knowledge in areas like finance, planning, replenishment, buying and merchandising, and e-commerce. Today, he serves as the company’s whole-time director.
The next generation leader shares his ambitions and goals with IndiaRetailing.
I enjoy being in retail because: Retail is a dynamic, fast-paced industry that constantly evolves with consumer trends. There is immense satisfaction in knowing that every decision we make as a team at V2 Retail has the power to impact millions of households across India, making fashion accessible to everyone. It’s not just about selling products, it’s about creating experiences, connecting with people, and continuously pushing the boundaries of what’s possible.
Biggest professional challenges I face are: Navigating the complexities of a highly competitive market while ensuring that we stay true to our mission of delivering affordable fashion is always a challenge. Balancing innovation with operational efficiency, especially in the face of rising costs and ever-changing consumer behavior, keeps me on my toes. Another key challenge is adapting to the rapid pace of digital transformation while maintaining the personalized, human touch that our customers expect from us.
To achieve their full potential, Indian retailers must: Embrace a mindset of innovation and sustainability. To truly tap into our potential, we need to prioritise technology to streamline operations, enhance customer experiences, and adapt quickly to shifting market demands. Retailers must also adopt sustainable practices to address the growing demand for eco-friendly products. Collaboration across the industry and leveraging India’s rich cultural heritage to offer unique, locally inspired designs will help differentiate Indian retailers in the global marketplace. Most importantly, we need to remain customer-centric, listening to and understanding the evolving needs of consumers.
My key professional accomplishments are: One of my proudest accomplishments is leading V2 Retail’s transformation from a regional player into one of India’s leading value fashion retailers. Through strategic expansion, smart investments in technology, and a deep understanding of our customers, we have been able to scale rapidly while maintaining profitability. I am also proud of the innovative initiatives we have introduced to improve the customer experience, from streamlining our supply chain to embracing digital platforms for seamless shopping experiences. Beyond the numbers, I take immense pride in building a passionate and dedicated team that shares the vision of making fashion accessible to all.
Akash Agarwal
Designation: Whole Time Director
Company/ Organization Name: V2 Retail Ltd.
Brand/s Name: V2 Retail
Core Business: Retail Stores
Address: Khasra No. 928, Extended Lal Dora Abadi Village, Kapashera Border, New Delhi 110037
Company email: [email protected]
