V2 Retail has secured a significant ₹163 crore investment through a block deal that brings Aditya Kumar Halwasiya into its shareholder base with a 6% stake. According to ETRetail, this transaction represents a 45 lakh share acquisition and marks a substantial change in the company's ownership structure. The investment comes alongside Cupid Limited's existing strategic investment, which holds warrants convertible into approximately 12% equity in Baazar Style Retail, with warrants corresponding to 3% already exercised into equity shares.
V2 Retail is implementing an aggressive store expansion strategy to strengthen its market position and drive sustained profitable growth. According to reports from Moneycontrol, the retailer is focusing on improving customer retention, inventory efficiency, and store-level economics as key drivers for this expansion approach. The company's cluster-based expansion strategy has resulted in store count increasing from 232 to 277 stores across 10 states and 198 cities, covering approximately 2.6 million sq. ft. of rental area.
The expansion strategy is delivering strong financial results, with Baazar Style Retail recording Revenue from Operations of ₹486.4 crore in Q1FY27, up 29% YoY, while EBITDA stood at ₹71.9 crore, up 24% YoY. As reported by ETRetail, the company's apparel segment contributed 87% of revenue in Q1FY27, while general merchandise accounted for 13%. The company has developed a portfolio of 11 private labels, which contributed 62% of revenue during Q1FY27, supporting its focus on brand building and customer engagement.
The strategic association with Cupid Limited creates significant retail distribution opportunities for Baazar Style Retail's growing FMCG and consumer product portfolio. According to ETRetail, the expanding store network provides greater access to consumers across markets, supporting product visibility and availability through an established retail platform. The combination of Baazar Style Retail's retail expansion and Cupid's consumer business scaling enables wider product reach, stronger retail penetration and increased access to emerging consumption markets. The company continues to focus on underserved Tier-II, Tier-III and Tier-IV markets as part of its expansion strategy.
