V-Mart Acquires D2C Brand LimeRoad For Over INR 31 Cr


Direct-to-consumer (D2C) apparel business LimeRoad has been acquired by retail giant V-Mart Retail for a total of Rs 31.12 crore in cash. Through LimeRoad’s userbase of five crore online buyers in tier II and III markets, the sale is probably going to assist V-Mart boost its online presence.

This corresponds with the fashion startup’s ongoing battle to compete with online retailers like Amazon, Flipkart, and Myntra. LimeRoad has so far secured more than $50 million from illustrious investors such as Matrix Partners, Tiger Global Management, and Lightspeed India Partners.

According to a statement, V-Mart will also invest Rs 150 crore to help LimeRoad become profitable. The listed company currently has a network of 450 outlets throughout the nation, and LimeRoad claims to have over two lakh downloads per day and a GMV of Rs 700 crore. The term “gross merchandise value,” or “GMV,” is frequently used to describe the total amount of goods and services that a retail business sells over time.

Under the V-Mart brand, LimeRoad will function independently, and its CEO Suchi Mukherjee will remain in that position.

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