Arvind Lifestyle sells Unlimited stores to V-Mart, Retail News, ET Retail

Davida Erdahl

Arvind Way of life Makes Ltd (ALBL), a wholly owned subsidiary of Arvind Fashions, has agreed to market assets of its Unlimited retail business to V-Mart Retail. Next this transaction, V-Mart Retail will enter the marketplaces in southern India.

ALBL will market set assets, lease deposits, warehouses, stock and other present assets of the 74 retail shops and warehouses at guide benefit. In return, it will get an estimated Rs 150 crore on the closure of the transaction. Precise thought may differ based on the actual buy rate on the transaction day.

In addition, V-Mart Retail may get contingent payments centered on certain milestones to be obtained over the upcoming several years next the acquisition of the assets.

“In line with our approach of focusing on our 6 significant conviction manufacturers, we resolved to exit the business. This would aid us set capital powering increasing our 6 concentrate manufacturers, aiding

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