V-Mart To Acquire LimeRoad; Plans To Invest INR 150 Crore
Country’s leading fashion retailer V-Mart Retail Ltd on Monday signed a definitive agreement to acquire LimeRoad, first discovery marketplace built for the value-seeking aspirational Indian. The Companies will leverage clear identified synergies and deliver emerging fashion trends at unbeatable value to 5 crore digital first Shoppers 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.
V-Mart has 20-years of expertise in understanding the value customer’s needs, ability to deliver high quality product at value prices, penetration in Tier 2/3/4 cities through a growing network of 410 stores, prudence and a track record of delivering shareholder returns. The Companies will combine these capabilities with LimeRoad’s community and editorially driven fashion quotient, ability to spot emerging trends first, logistics efficiency, technology and data to transform the way latest trends are delivered to aspirational consumers across all forms of retail.
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, Founder, LimeRoad said, “We are proud to bring LimeRoad to the V-Mart family. Suchi and the team have proven their ability to grow and scale a marketplace business while delivering best-in-the-industry metrics. V-Mart will operate LimeRoad as an independent business unit, retaining its tech start-up culture”.
About V-Mart Retail Ltd
A pioneer in organised value fashion, and founded in 2002, V-Mart is an omni retail store chain for the complete family, offering fashion apparel, footwear, home furnishings, general merchandise and kirana. As a 20 year old listed entity with strong fundamentals, V-Mart has always focused on prudence and consistently delivered shareholder returns. It has a strong vendor and service partner ecosystem, which is invested heavily in its growth. It has the trust and confidence of over 33 million customers and delivers & serves best fashion, comfort and quality, product category and price point from an extensive network of 410 fashion stores.
LimeRoad, founded in 2012, offers freshest unbranded styles and unique content to its 17 million value buyers. LimeRoad's model is designed to serve Bharat, with the fastest web speeds in the country, and the lightest app, that ensures the smoothest online customer experience.
At peak, LimeRoad was delivering GMV of over INR 700 crore with women contributing to 65 per cent of the business, at consistently strong contribution margins post marketing costs. It holds a strong position in the INR 500-1000 fashion segment. It has achieved over 250,000 peak app downloads per day and has reached top three in All India Shopping Play Store ranking. With a NPS score of 44, out-scoring most other online marketplaces, Limeroad.com has enjoyed a customer retention rate of over 60 per cent.