V2 Retail Ltd was originally incorporated on July 23, 2001 as Vishal Retail Private Limited as a Private Limited Company. The Company got converted into a Public Limited Company and name of the Company was changed to Vishal Retail Limited. Thereafter, the Company's name was changed to V2 Retail Ltd effective on 29 July, 2011.
The Company is one of fastest growing retailing groups in India. The company offers a portfolio of products, including apparel, non-apparel and fast moving consumer goods. The company sells readymade apparels, household merchandise, and other consumer goods like footwear, watches, toys, toiletries, grocery items, sports items, crockery, novelties and gifts. The company's subsidiaries include VRL Foods Ltd, VRL Movers Ltd, VRL Consumers Goods Ltd, VRL Fashions Ltd and VRL Infrastructure Ltd.
The Company offer affordable family fashion at prices to suit every pocket. Their outlets cater to almost all price ranges. The showrooms have over 70,000 products range which fulfills all household needs. The cost benefit that is derived from the large central purchase of goods and services is passed on to the consumer.
In November 2001, the company acquired the proprietorship firm Vishal Garments & The Vishal Garments. In the year 2002, they opened their first store in Delhi. In the year 2003, the company acquired the manufacturing facilities from Vishal Fashions Private Ltd and Vishal Apparels as a going concern and set up a manufacturing unit in Gurgaon.
In the year 2004, the company started their largest store at New Delhi having an area of 80,000 sq ft. The company was converted to a public company on February 20, 2006. During the year 2006-07, the company opened up three new stores at Patna in Bihar, Karnal in Haryana and Dahisar in Maharashtra.
During the year 2007-08, the company established five new companies, namely VRL Foods Ltd, VRL Movers Ltd, VRL Consumer Goods Ltd, VRL Fashions Ltd and VRL Infrastructure Ltd for diversifying the business operations. Also, they set up their manufacturing units at Manesar and Dehradun, with production capacities of 1.5 million pieces each per annum. With this, the company is having three manufacturing facilities with total installed capacity of 4.5 million pieces per annum.
During the year, the company added 52 new stores, out of which 34 were in Tier-III cities, two in Tier-II cities and 16 in a Tier-I city. Also, they added 9 warehouses with an area of 581,640 sq ft, taking the total number of warehouses to 29 spread across 1.1 million sq ft of space. Also, they added a fleet of 40 trucks taking the total number of trucks in the fleet to 98. As on March 9, 2009, the company had 182 stores spread across India.
In March 2008, the company entered into a an agreement with Hindustan Petroleum Corporation Ltd, in which Hindustan Petroleum Corporation Ltd will provide space to the company for either Retail store or Warehousing at their mutually selected retail outlets. The company opened two such stores on a trial basis and had plans to increase it to 20-25 stores.
During year 2008-09, the Company increased the number of stores to 171 to the Portfolio, and added approx 1 Million. Sq. Ft. of Retail Space during the financial year, ended March 31, 2009.
The wholesale business, franchise business and retail undertaking of the Company was sold to TPG Wholesale Pvt. Ltd and Airplaza Retail Holdings Pvt. Ltd as per Wholesale Slump Sale Agreement dated January 06, 2011. It opened new stores under the brand 'V2' at Sanjauli, Solan and Jamshedpur. It opened a new warehouse at Rangpuri, Delhi on 31.12.2010 and also opened a new warehouse at Kapashera, Delhi on 25.04.2011.
In 2011-12, the Company opened new stores at Mahipalpur, Karol Bagh, Faridabad, Jamshedpur, Rajouri Garden, Ludhiana and Krishna Nagar. It opened new store at Patna on 02.04.2012. In 2013, it opened 8 new stores.
The Company had 15 stores in 2014, 1 new store was opened at AARA, in Bihar. Guwahati Store, in Assam was made operational in April, 2014. The number of store increased to 22 in 2016, to 37 in 2017. The number of 'V2' stores increased to 49. The Company added 16 stores in 2018. Total number of stores increased to 77 in 2019. M/s V2 Smart Manufacturing Private Limited was incorporated on 25.10.2019 as wholly owned subsidiary Company.
The Company added 31 new V2 Stores. It opened 10 stores in 2022 and added 12 V2 stores in 2023.