Vishal Mega Mart
Vishal Mega Mart is an Indian value retail chain operating 795+ stores across 535 cities (primarily tier 2/3 markets) plus an e-commerce platform, selling affordable apparel, groceries, personal care, and general merchandise to middle and lower-middle income consumers, with 74%+ private label mix.
- Company typePublic
- Founded2008
- HeadquartersGurugram, India
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Vishal Mega Mart does
Vishal Mega Mart (legal entity Airplaza Retail Holdings Private Limited) is an Indian value retail chain incorporated in 2008 and headquartered in Gurugram, Haryana. It operates an omni-channel retail business combining 795+ physical stores across 535 cities — with deliberate concentration in tier 2 and tier 3 Indian markets — alongside an e-commerce website and mobile applications on iOS and Android that offer free 2-hour delivery on orders above ₹299. The company sells affordable apparel, groceries, personal care, household, and general merchandise categories under both branded and private-label assortments, with private labels (Driftwood, Mavie, First Crop) contributing over 74% of revenue.
The business targets value-conscious middle and lower-middle income Indian consumers, with an entry-level price architecture (e.g., men's vests from ₹59) and a unit-pricing model across tiers ranging from ₹59–₹399 essentials to ₹200–₹1,000+ apparel and home goods. The underlying technology stack is a standard e-commerce storefront (Salesforce Commerce Cloud, inferred from the Demandware asset URLs) integrated with social login (Google, Facebook OAuth) and in-store retail operations; no proprietary AI, data flywheel, or platform moats are disclosed. The product catalog spans nine categories — Women's Fashion, Men's Fashion, Kids & Infants, Home & Kitchen, Appliances, Travel, Food & Groceries, Personal Care, and Household Care.
The company went public in December 2024 at a 41% premium, listing on NSE (ticker VMM) and BSE. Pre-IPO promoter Kedaara Capital (via Samayat Services LLP) and co-investor Partners Group have subsequently reduced exposure through large block deals — Samayat Services LLP sold ~14% for ₹7,635 crore in February 2026, and Partners Group exited approximately 14% for ~$560 million in March 2026 with an 8.41x return. Marquee long-only institutions (Government of Singapore, MAS, HDFC Mutual Fund) absorbed the February 2026 supply. Revenue grew 20.44% YoY to ₹12,906 crore in FY2026, with Q4 net profit up 46% YoY, supported by 105 net new store openings and double-digit same-store sales growth.
Vishal Mega Mart firmographics
Firmographics- Name
- Vishal Mega Mart
- Legal name
- Airplaza Retail Holdings Private Limited
- Website
- https://vishalmegamart.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Vishal Mega Mart is an Indian value retail chain operating 795+ stores across 535 cities (primarily tier 2/3 markets) plus an e-commerce platform, selling affordable apparel, groceries, personal care, and general merchandise to middle and lower-middle income consumers, with 74%+ private label mix.
- Ownership category
- akta.pro rank
Vishal Mega Mart industry classification
Industry- Product category
- Value Retail
- NAICS
- All Other General Merchandise Retailers (455219), Grocery and Convenience Retailers (4451)
- SIC
- Retail-Variety Stores (5331), Retail-Miscellaneous Shopping Goods Stores (5940), Retail-Apparel & Accessory Stores (5600)
- akta.pro primary industry
- General Merchandise Variety-Value Mass Merchandisers (CRAGABAH)
- akta.pro secondary industries
- Regional Mass Merchandisers (CRAGABAB), General Apparel Retail (Specialty & Mass) (CRAAABAA)
Keywords
Where Vishal Mega Mart is headquartered
LocationHeadquarters
- HQ city
- Gurugram
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Vishal Mega Mart business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- Physical Retail Sales: Revenue generated from sales of apparel, groceries, personal care, household items, and general merchandise through physical retail stores across India
- E-commerce Sales: Online sales through website and mobile app with delivery services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Entry-level apparel and essentials |
| Unit Pricing | Pay-as-you-go | Premium apparel and general merchandise |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
Vishal Mega Mart product offering
Product offeringCore offering
Vishal Mega Mart operates a value retail chain selling affordable apparel, groceries, personal care, home and kitchen, appliances, and household essentials through 795+ physical stores across 535+ cities in India and an e-commerce platform. The assortment is anchored by a 74%+ private label mix, including brands such as Driftwood (men's innerwear), Mavie (men's activewear), and First Crop (food staples), targeting value-conscious middle and lower-middle income consumers in tier 2 and tier 3 cities.
Product overview
Vishal Mega Mart operates a unified omni-channel retail platform combining physical stores (795+ outlets across 535+ cities) with an e-commerce website and mobile applications. The product portfolio is organized into 9 main categories: Women's Fashion, Men's Fashion, Kids & Infants, Home & Kitchen, Appliances, Travel, Food & Groceries, Personal Care, and Household Care. The company differentiates through private label brands (Driftwood for innerwear, Mavie for activewear, First Crop for food staples) and an 'Opening Price Point' strategy targeting value-conscious consumers. The platform offers free 2-hour delivery on orders above ₹299.
Differentiator
Problem solved
Functional benefit
Products and services
- Women's Fashion
Quantifiable outcome
- Expected 18% revenue CAGR and 21% EPS CAGR over FY26-29
- +2 more outcomes
Companies that use Vishal Mega Mart
Customer profileSegments2 records
Ideal customer profiles2 records
Vishal Mega Mart technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Vishal Mega Mart partnerships and signals
Strategic signalScale indicators8 records
Recent moves9 records
Expansion highlights5 records
Vishal Mega Mart competitors and assessment
Company assessmentDirect peers
- V2 Retail: V2 Retail is an Indian value-focused fashion and general merchandise retailer with a similar tier 2/3 city footprint and value-price positioning, making it a close small-cap comparable.
- Spencer's Retail: Spencer's operates multi-format retail stores across India in grocery, apparel and general merchandise, with overlapping category mix and a similar mid-market to value customer base.
- Avenue Supermarts (DMart): DMart is India's largest listed value retailer with a similar low-price, multi-category hypermarket model and comparable private-label orientation. The most direct publicly-traded comparable for Vishal Mega Mart's value-retail proposition.
Broad incumbents
- Reliance Retail Ventures: Reliance Retail is India's largest organised retailer, operating Smart Bazaar, Trends, and other value-oriented formats across tier 2/3 cities. A much larger, multi-format incumbent with overlapping customer overlap.
- Trent Limited (Westside, Zudio): Trent operates Westside and the rapidly-expanding Zudio value-fashion chain, both of which target value-conscious Indian shoppers with comparable fashion and general-merchandise offerings.
- Aditya Birla Fashion and Retail: ABFRL operates multiple Indian apparel and lifestyle brands across price points. Provides relevant benchmarking on Indian multi-brand retail scaling and fashion category economics.
- Metro Cash & Carry India: Metro operates B2B-focused wholesale cash-and-carry stores across India selling grocery and general merchandise to retailers and businesses, providing a comp for general merchandise distribution economics.
Peers
Others
- Walmart India (Best Price Modern Wholesale): Walmart India operates a member-only B2B wholesale cash-and-carry format in India. Functions as a wholesale ecosystem peer rather than a direct retail competitor, but anchors value-merchandise supply chains.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key highlights6 records
Customer concentration
Vishal Mega Mart social profiles
Digital presenceVishal Mega Mart financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vishal Mega Mart leadership team
Management profileNumber of profiles
Profiles2 records
Vishal Mega Mart funding detail
Funding detailFunding overview
Funding rounds3 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vishal Mega Mart M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Vishal Mega Mart
What does Vishal Mega Mart do?
Vishal Mega Mart operates a value retail chain selling affordable apparel, groceries, personal care, home and kitchen, appliances, and household essentials through 795+ physical stores across 535+ cities in India and an e-commerce platform. The assortment is anchored by a 74%+ private label mix, including brands such as Driftwood (men's innerwear), Mavie (men's activewear), and First Crop (food staples), targeting value-conscious middle and lower-middle income consumers in tier 2 and tier 3 cities.
Is Vishal Mega Mart a public or private company?
Vishal Mega Mart is a public company. It is classified as public and is currently operating.
When was Vishal Mega Mart founded?
Vishal Mega Mart was founded in 2008. It employs 5,001 to 10,000 people.
Where is Vishal Mega Mart based?
Vishal Mega Mart is headquartered in Gurugram, India, in the Asia region.
How does Vishal Mega Mart make money?
Two revenue lines are on record. Physical Retail Sales are the primary driver. The others are E-commerce Sales.
Who are Vishal Mega Mart's main competitors?
Direct peers on record are V2 Retail, Spencer's Retail and Avenue Supermarts (DMart). Broad incumbents are Reliance Retail Ventures, Trent Limited (Westside, Zudio), Aditya Birla Fashion and Retail and Metro Cash & Carry India. ITC Limited (Foods & Personal Care) is listed as a peer. Walmart India (Best Price Modern Wholesale) is listed as an others.
Does Vishal Mega Mart have an API?
No public API is recorded for Vishal Mega Mart.
What industry is Vishal Mega Mart in?
Vishal Mega Mart's product category is Value Retail. Its primary akta.pro industry code is CRAGABAH, General Merchandise Variety-Value Mass Merchandisers, with a secondary code of CRAGABAB, Regional Mass Merchandisers. Its NAICS code is 455219 and its SIC code is 5331.