V-Mart Retail to foray into underpenetrated markets with "Unlimited'

V-Mart Retail will foray into the South India market by acquiring all existing stores of ‘Unlimited’ the brand from Arvind Lifestyle Brands (ALBL), a wholly owned subsidiary of Arvind Fashions (AFL) for cash consideration. V-Mart will acquire the assets of all stores, warehouse, inventory as well as the store brand 'Unlimited' at their book value. These stores have an estimated outlay of about Rs 150 crore at closing, and certain contingent payments based on milestones over next few years, post the acquisition.

In all, Unlimited operates a chain of 74 value fashion stores across South and West India and retails fashion apparel and accessories for men, women and children at affordable prices. The move will also help V-Mart pursue its cluster-based expansion strategy and shorten the time-span required for geographical expansion of this scale in a new big market.