LimeRoad, value fashion online platform, to get acquired by V-Mart with commitment to invest Rs 150 crores
Oct 18, 2022
New Delhi [India], October 18 (ANI/NewsVoir): LimeRoad founders entered definitive documents with Mumbai-listed V-Mart. The deal will enable LimeRoad to serve their 1.7 crore digital first buyers, together with 3.3 crores of offline buyers.
LimeRoad's pre-COVID offline experimental stores in Panipat and Surat were highly successful with learnings on scalability. This deal enables faster scale up of the online-offline experience using V-Mart's 410 store network. It also helps LimeRoad roll out superior quality selection at the low price end of the value segment, solving the number 1 problem of value consumers online.
LimeRoad has an unmatched online platform and app, powered by the fastest web-speeds, the lightest app, award winning logistics backbone, and unique editorial content with community micro-influencers. At peak, LimeRoad run-rated 250,000+ app downloads per day, a #3 All India Shopping Play Store ranking, GMV of Rs. 700+ crore with consistently high post marketing margins. Women contribute to 65 per cent of the business, with strong presence in the Rs. 500-1000 segment. The NPS score of 44, out-scores most marketplaces, translating to strong customer retention rates.
LimeRoad was founded by Suchi Mukherjee and Ankush Mehra.
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