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

Arvind Life-style Models Ltd (ALBL), a wholly owned subsidiary of Arvind Fashions, has agreed to provide belongings of its Limitless retail business to V-Mart Retail. Pursuing this transaction, V-Mart Retail will enter the markets in southern India.

ALBL will provide fastened belongings, lease deposits, warehouses, inventory and other present belongings of the 74 retail stores and warehouses at ebook benefit. In return, it will get an approximated Rs one hundred fifty crore upon the closure of the transaction. Real thing to consider might differ relying on the precise invest in rate on the transaction day.

In addition, V-Mart Retail might get contingent payments dependent on specified milestones to be obtained in excess of the next couple of many years next the acquisition of the belongings.

“In line with our tactic of focusing on our six high conviction manufacturers, we determined to exit the business. This would support us set capital

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