Online shopping retailer V-mart has acquired LimeRoad , owned by A.M. Marketplace Pvt. Ltd for 31.12 Cr INR, in an all cash deal.
LimeRoad’s 5Cr online shoppers’ base is likely to nourish the sales of V-Mart. Whereas, the e-commerce platform will be operated independently under V-Mart’s label. Moreover the CEO of LimeRoad will be continuing her role.
The Direct to Consumer (D2C) brand was founded in the year 2012, which attained Gross Merchandise Value of above Rs. 700 Cr with 1.7 Cr value shoppers.
The company has been struggling to be in the the race with other shopping sites including Amazon, Flipkart and Myntra.
LimeRoad has raised a sum of $51 million from Marquee Investors, Tiger Global Management , Lightspeed India Partners and Matrix Partners India Advisors LLP.
V-Mart has also planned to invest 150 Cr INR on LimeRoad for the Start-up to gain sustainable profit.
“The partnership help us fundamentally solve the quality conundrum at value prices online, and accelerate our vision of making the freshest of fashion accessible to our core consumer through a uniquely rich online-offline experience.” The CEO, Suchi Mukherjee stated.
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