V-Mart Retail Ltd. (V-Mart), India’s leading value fashion retailer, has signed definitive agreements to acquire the assets of all stores, warehouse, inventory as well as the store brand ‘Unlimited’ from Arvind Lifestyle Brands Ltd (ALBL), a wholly-owned subsidiary of Arvind Fashions Ltd (AFL) at their book value, with an estimated outlay of about Rs 150 Cr.
Unlimited operates a chain of 74 value fashion retail stores across South and West India and V-Mart will acquire all of the existing running stores of ‘Unlimited’. V-Mart will be debuting in South India and helping customers meet their fashion aspirations through its vast array of quality products at affordable prices. Commenting on the transaction, Mr. Lalit Agarwal, Chairman & Managing Director of V-Mart Retail Ltd said, “We are proud to bring the ‘Unlimited’ stores within the umbrella of V-Mart family, which was part of Arvind Fashions. With this acquisition, we will have another 74 stores in our portfolio for catering to the fashion needs of families in the southern and western markets of India”.