V-Mart Retail acquires D2C fashion brand Limeroad

By

Maverick Martins

Published
Oct 17, 2022

Value fashion retailer V-Mart Retail has acquired direct-to-consumer (D2C) fashion brand Limeroad in an all-cash deal of Rs 31 crore ($3.8 million).

Limeroad will operate as an independent entity under the V-Mart label and the start-up’s CEO Suchi Mukherjee will continue her role.

With this acquisition, V-Mart aims to strengthen its online presence through Limeroad's customer base of five crore online shoppers in tier 2, 3 markets.

V-Mart plans to further invest a total of Rs 150 crore to help Limeroad to scale its presence and achieve profitability.

Commenting on the acquisition, Lalit Agarwal, managing director of V-Mart Retail Ltd in a statement 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 CEO of Limeroad added, “The value customer has a high bar of prices meets style-aspiration meets quality. “V-Mart is a leader in the price meets quality space. This partnership helps us fundamentally solve the quality conundrum at value prices online and accelerate our vision of making the freshest of fashion accessible to our core customer through a uniquely rich online-offline experience.”

Limeroad is a fashion e-commerce website founded in 2012 which sells apparel and accessories for men, women, and kids with a strong position in the Rs 500-1000 fashion segment.