Value fashion and lifestyle products retailer V-Mart Retail plans to invest Rs 115 crore by the end of March 2020 in expansion. V-Mart, which primarily operates in tier II, III and IV cities and follows a cluster-based model approach to expand, plans to add 60 more stores to create a network of 275 outlets by the end of March 2020. Since April this year, it has opened 20 new stores and currently operates 233 outlets in 18 states and Union territories in India. "We plan to invest Rs 115 crore in the opening of the new stores, to enhance our back-end support and in manpower. We are also planning to add 2000 more employees to our existing team,” its chairman and managing director Lalit Agarwal told PTI. V-Mart, will fund future expansion through internal accruals, he added. When asked if the company will continue to focus on smaller towns in India to expand, he said, "75 percent of our stores are located in just four states — Uttar Pradesh, Uttarakhand, Jharkhand and Bihar. Consumption levels are much higher in the markets we operate in. These markets are under-served. We will continue to go deeper and focus on tier II, III and IV towns as we expand and we will also keep on adding new states". V-Mart, which has a distribution centre near Gurgaon to service all its stores, is also planning to open another distribution centre as it expands its footprints across India. In FY 2018-19, the company had reported net total revenue of Rs 1440 crore.