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Published
Sep 3, 2021
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V-Mart Retail strengthens retail presence with Unlimited acquisition, opens new stores

Published
Sep 3, 2021

Value fashion and lifestyle retailer V-Mart Retail Limited has strengthened its retail presence and entered the south Indian market by taking over 74 stores of Unlimited in South and West India.
 

V-Mart Retail strengthens retail presence with ‘Unlimited’ acquisition - V-Mart


Additionally, the company has also opened four new stores, two in the state of Bihar and one each in the state of Delhi, and Uttar Pradesh.
 
In July, V-Mart had signed a deal to acquire all existing stores of Unlimited from Arvind Lifestyle Brands Ltd (ALBL), a wholly-owned subsidiary of Arvind Fashions Ltd (AFL).

With the acquisition and opening of new stores, V-Mart has taken its store count to 363 stores. The company plans to open around 50 stores every year to further fuel its growth in the Indian market.
 
V-Mart Retail managed to narrow its net loss to Rs 29 crore ($4 million) for the first quarter ended in June 2021 while its revenue jumped two-folds to Rs 177 crore despite the Covid-19 disruptions.
 
On the back of this acquisition coupled with the retail expansion, the company expects strong sales going forward and expects business to bounce back in the coming months.

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