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Vijay Sales aims to double its sales to ₹8,000–₹10,000 crore by 2025, said a top official. Currently, its annual sales are to the tune of ₹4,000 crore.
The electronics retail chain also aims to take its total stores to 200 by 2025 from the 106 at present.
Pre-covid levels
Speaking to BusinessLine , Nilesh Gupta, Director at Vijay Sales, said the company has managed to generate sales that are close to its pre-Covid levels.
In 2019, Vijay Sales recorded sales worth ₹4,000 crore. In this fiscal, “if there are no more lockdowns, and if the supply chain is consistent, we may even cross our 2019 sales mark and generate sales to the tune of ₹4,200 crore.”
With this being the yardstick of growth, Gupta said, “There won’t be a u-turn now.”
The company is confident that now there won’t be many hurdles. “Our aim is to get to sales of at least ₹8,000 crore to ₹10,000 crore by 2025,” Gupta said.
Growing market
When asked about his strategy to generate these sales in view of heavy competition from Reliance Retail-backed Reliance Digital and Tatas-backed Croma, he said, “As competition grows, the market will grow too…we are focusing on growth, both online and offline.”
At present, Vijay Sales has 106 stores spread across the length and breadth of the country. “We will expand to 200 stores, that will help us generate more sales,” he explained.
Online segment
Traditionally, the homegrown electronics retail chain has been a brick-and-mortar brand. With changing times, the company has also accelerated its online segment.
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Speaking to BusinessLine earlier this year, Gupta had said that the company aims to generate sales to the tune of ₹200 crore in this fiscal from its online segment.
However, he said that the company might be able to generate sales only up to ₹120 crore this year. “With things opening up, our customers have started coming back to the stores, but our online sales are growing steadily.”
Gupta said that the company will cater to metros and tier 2 cities equally. While there is a swift growth in tier 2 cities, metro cities like Mumbai, Delhi, and Pune generate most sales for the company and hence, it sees more potential in the same city stores as well.
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