Mumbai-listed worth retail chain V-Mart Retail Ltd has signed a definitive settlement to accumulate LimeRoad, a social commerce platform LimeRoad.com, in what can be doubtless one other distressed transaction within the shopper dealing with class after beverage chain Beer Café was being bought to Bira91 final week.
By way of the transaction, as per a press assertion, each the events will leverage one another’s energy to ship rising vogue traits to atleast 5 crore digital first buyers.
The traits along with LimeRoad’s neighborhood experience will rework V-Mart shops right into a wealthy local-experience facilities, driving increased repeat footfall time beyond regulation, the assertion added. V-Mart at the moment operates 410 shops throughout Tier- II, III and IV cities.
V-Mart has dedicated to speculate a complete of ₹150 crore into the Tiger International-backed LimeRoad over a interval of 2-3 years. It couldn’t be instantly ascertained the scale of the quick transaction.
V-Mart provides clothes, equipment, and private care merchandise for males, girls, and youngsters in shops having a mean dimension of 8,000 sq. toes.
V-Mart, which went public in 2013, was began in 2002 by Delhi-based Lalit Agarwal, a cousin of RC Agarwal who’s chairman of Vishal Retail (Now V2 Retail).
“V-Mart is likely one of the strongest gamers within the worth retail section fulfilling vogue wants of plenty throughout India. With this acquisition we intention to not solely purchase digital first millennials however construct our omni-channel experience.” mentioned Agarwal, MD at V-Mart Retail Ltd.
That is second acquisition struck by the listed worth retail chain. In July 2021, it purchased out Limitless retail chain from Multiples PE-backed Arvind Fashions Ltd which owns the Flying Machine model of denim attire.
Suchi Mukherjee, the founding father of LimeRoad will be part of V-Mart’s management workforce as CEO of LimeRoad & the omni-channel enterprise of V-Mart. Ankush Mehra, the co-founder of LimeRoad can even proceed as COO.
The startup was arrange by Mukherjee, who has labored with the manager administration workforce of Skype, Mehra, former head of provide chain at Reliance Hypermarkets, and Manish Saksena, former COO of Tommy Hilfiger India,
LimeRoad claims to supply unbranded types and distinctive content material to its 1.7 crore worth buyers. Girls contribute to 65% of the enterprise, with robust presence within the Rs. 500-1000 section.
The startup added that in its peak, LimeRoad has delivered over 250,000 app downloads per day, and achieved GMV of Rs. 700 crore at persistently robust margins, publish advertising prices.
LimeRoad additionally counts enterprise capital funds comparable to Matrix Companions and Lightspeed Enterprise Companions amongst its traders.
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