16 November 2022, Mumbai:
Value fashion retailer V-Mart Retail’s revenue for the second quarter rose by 50 percent. Net loss narrowed to Rs 11 crores.
The company opened 16 new stores in the quarter including two stores in the south. In all six new Unlimited stores were opened in South India this year and they have been delivering higher sales productivity as compared to the legacy Unlimited stores.
The company has also successfully closed its transaction with A M Marketplaces for the acquisition of Limeroad and has begun the integration process. Going forward, Limeroad will become the primary omni-e-commerce vehicle for V-Mart’s online presence.
Limeroad is an online fashion marketplace. This is expected to help strengthen V-Mart’s omni-channel strategy and leverage synergies to deliver emerging fashion trends to digital-first shoppers.
V-Mart will operate Limeroad as an independent business unit, retaining its tech start-up culture. Limeroad offers fresh unbranded styles and unique content to value shoppers. V-Mart and Limeroad hope this agreement enables them to become India’s fastest-growing omni-channel value-fashion retail platform.
V-Mart retails a wide selection of men’s, women’s, and children’s casual, ethnic, and occasion wear as well as accessories and lifestyle goods. The company currently runs 410 stores across Tier II, III, and IV cities.
