The all-purpose apparel store is called V-Mart and it’s unlikely you’ve ever been there.
But the Indian department store chain is the best-performing retailer in the world according to Bloomberg’s data, which only considers chains with a minimum market cap of $200 million. Since V-Mart’s IPO in 2013, its shares have gone up by a factor of 10 and this year alone its shares have seen a 47 percent jump so far.
V-Mart’s local competitors are taking notice, however.
“V-Mart’s strong business model in terms of store economics is increasingly being replicated by other players given the limited barriers to entry,” analysts noted earlier this month. “We need to be cautious on companies with valuations that have significantly outrun fundamentals.” [Bloomberg] — Erin Hudson