V-Mart Retail has appointed Varin Agarwal as its new Head of Merchandising, bringing in leadership experience across strategy, business operations and growth.
Prior to joining the value-fashion retailer, Agarwal was associated with US Mobile as Head of Strategy, Operations and Growth. During his tenure, he contributed to an 82% increase in revenue within 14 months and led a customer experience team comprising more than 350 employees. His professional experience also includes stints at Kearney and Build Republic.
The leadership appointment comes against the backdrop of a mixed financial performance in Q2 FY27. V-Mart Retail reported a net loss of Rs 16.34 crore, widening from Rs 8.87 crore in the corresponding quarter of the previous financial year.
Despite the higher loss, the company’s revenue from operations registered an 18.1% year-on-year increase to Rs 952.99 crore, compared with Rs 806.87 crore in Q2 FY26. EBITDA also improved to Rs 86.06 crore from Rs 71.51 crore a year earlier.
Total expenses during the quarter climbed to Rs 976.37 crore, against Rs 823.91 crore in the corresponding period last year.
On a half-yearly basis, V-Mart Retail reported revenue from operations of Rs 2,041.80 crore in H1 FY27, up from Rs 1,692.09 crore in H1 FY26. Net profit for the six-month period rose to Rs 30.87 crore, compared with Rs 24.73 crore in the previous year.
Agarwal’s appointment adds experienced leadership to the merchandising function as V-Mart continues to expand its presence in India’s value-fashion retail segment.
