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V-Mart Retail has signed definitive agreements to acquire all of existing running stores of ‘Unlimited' from Arvind Lifestyle Brands (ALBL), a wholly owned subsidiary of Arvind Fashions (AFL) for cash consideration.
Unlimited operates a chain of 74 value fashion retail stores across South and West India and retails fashion apparel and accessories for men, women and children at affordable prices.
As part of the transaction, V-Mart will acquire the assets of all stores, warehouse, inventory as well as the store brand ‘Unlimited' at their book value, with an estimated outlay of about Rs 150 crore at closing,
and certain contingent payments based on certain milestones achieved in these stores over next few years, post the acquisition.
Through this development, V-Mart will be debuting into South India and helping customers meet their fashion aspirations through its vast array of quality products at affordable prices. The move also fits well with V-Mart's cluster-based expansion strategy and dramatically shortens the time-span required for geographical expansion of this scale in a new big market.
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