Excelsior Correspondent
NEW DELHI, Oct 21: Leading Value Fashion Retailer, V-Mart Retail Ltd has signed a definitive agreement to acquire LimeRoad.
Through this the companies will leverage clear identified synergies and deliver more than 2 lakh emerging fashion trends at unbeatable value to 5 crore digital first customers (offline & online) from 410 stores to thousands of cities of Bharat.
LimeRoad offers freshest unbranded styles and unique content to its 1.7 crore value shoppers. The platform delivers the fastest web speeds in India, the lightest app, and ensures the smoothest online experience. The back-end delivers optimised logistics costs through an award winning logistics network.
At close, V-Mart with LimeRoad will be a unique one of its kind, profitable Omni-channel player. LimeRoad will fundamentally solve the trust & quality issues for value customers online, and work with V-Mart’s expertise to translate emerging trends into product depth, through sharply focused owned D2C brands. Commenting on the transaction Lalit Agarwal, Managing Director of V-Mart Retail Ltd said “V-Mart is one of the strongest players in the value retail segment fulfilling fashion needs of masses across India. With this acquisition we aim to not only acquire digital first millennials but build our Omni-channel expertise.”
Suchi Mukherjee, the founder of LimeRoad joins V-Mart’s leadership team as CEO of LimeRoad & the Omni-channel business & Ankush Mehra co-founder of LimeRoad continues as COO.
Metta Capital acted as an exclusive financial advisor and Saraf and Partners acted as legal advisor to V-Mart for this transaction.
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