V-Mart Retail Ltd. (V-Mart) recently signed definitive agreements to acquire all of the existing running stores of ‘Unlimited’ from Arvind Lifestyle Brands Ltd (ALBL), a wholly-owned subsidiary of Arvind Fashions Ltd (AFL) for cash consideration. As part of the transaction, V-Mart is to 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 ₹150 Cr 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 in 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.
In this exclusive interaction with IMAGES Retail, Lalit Agarwal, Chairman & Managing Director of V-Mart Retail Ltd talks about the recovery from pandemic losses and the future of Omnichannel retail. Excerpts:
As we are in an unpredictable landscape, how should retailers prepare to overcome the destruction caused by the pandemic? Your views.
This has certainly been the most challenging times that we all have gone through, and we also got an opportunity to check our system, efficiency, and ability on bringing change management to handle the disruption. The entire period has imparted a lot of learning and as a result we have seen new agility and processes coming. It was a strong comeback looking at the first quarter results, and the period was actually rising during the second quarter. Then the larger part of the year was mostly taken over by the market conditions, which were not in our control. The team did a great job in collaborating and working in whichever environment provided.
Continue reading your story on the app
Continue reading your story in the magazine
RETAIL TECH ICONS: BRINGING IN INNOVATION AND SCALABILITY
Asurvey of 1,420 IT executives across Europe, Asia and the Middle East found that there has been a 59% rise in investment in technology by retailers during 2022.
Building A Connect: How Brands Are Making The Most Of The Year-End
As the year comes to a close, brands are looking forward to making the most of the quarter and have dived into the omnichannel world. Post the pandemic and having witnessed an unprecedented growth, the retail sector is strengthening business by leveraging automation and adding a personal touch to the shopping experience.
The Shift in Textile Retail Segment: Here's What Consumers are Looking for
With the onset of the festive season, retailers across industries and domains are starting to register sales, which is bringing them out of the clutches of the lowmarket trends they have been experiencing since the pandemic. However, every industry needs to understand their customer more specifically now and textile for that matter essentially needs to know what the consumers are looking for.
Redefining the Retail Shopping Experience with NDHGO's Scan & Go Solution
Scan & Go solutions have emerged as greatly advantageous and useful for brick-and-mortar retail stores. The cutting-edge‘ Scan & Go self-checkout system makes retail shopping convenient, quick, and secure.
Urban Square, Udaipur welcomes key tenants for fitouts with ceremonial keys
One of India's most exciting retail real estate projects located in one of the country's most historic cities — Urban Square, Udaipur announced the start of fitouts at the IMAGES Retail Awards (IRA) 2021 ceremony and welcomed some of its key tenants with a ceremonial handover of keys to their stores.
Customer Loyalty in Retail: Technology Trends
Customer loyalty has now become a very hard thing to get for any retailer as customers these days have an abundance of options to choose from when shopping in the highly competitive retail market. Global Data Thematic Research highlights the key technology trends impacting the customer loyalty theme.
Destination Korea – In just a click!
Korikart brings in a flavour of Korea right to our doorstep. This marketplace brings multiple Korean favourites, all at one place. Brands like The Saem, Plan 36.5, Jin Ramen, Mustaev, The Face Shop, Innisfree, Etude House and many more are just a click away on Korikart. Korikart has certainly gained many followers since inception, but how does the brand continue to carry on the excitement with new additions and its impeccable services. Here’s unraveling their story!
In this exclusive interaction with IMAGES Retail, Lalit Agarwal, Chairman & Managing Director of V-Mart Retail Ltd talks about the recovery from pandemic losses and the future of omnichannel retail. Excerpts:
ADIDAS ENDS ITS 15 YEAR SAGA WITH REEBOK, SELLS OFF THE BRAND TO ABG
German sports giant, Adidas has made it official that it has entered into a definitive agreement to sell Reebok to Authentic Brands Group (ABG) for a total consideration of up to € 2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration.
KEARNEY PREDICTS INDIAN E-COMMERCE DOMAIN TO HIT $40 BILLION MARK BY 2030
The e-commerce sector is emerging in a big way in India and keeping in mind the boom and the growth of this sector, the global consulting rm Kearney came up with a report titled “Value e-commerce: The Next Big Leap’s Indian Market” highlighting the growth story of the e-commerce industry in India. As per the report and its findings, India will soon represent an e-commerce market valuing US $40 Billion. This growth comes with the growing consciousness towards value.
MARTINA TRIES SERVING OF CANNABIS CANCER CURE!
WEED fan Martina Navratilova is praying that cannabis products will net her a cure-all for her deadly cancers!
DOWN THE HATCH
Alcohol-fuelled catharsis in Des Moines” and Between Riverside and Crazy.”
The Latin-style dance can keep you young—in body and soul.
Fortune Most Powerful Women
This year marks the 25th Anniversary of the Most Powerful Women list. It also happens to be the most competitive in this ranking's history. Rather than compile separate international and domestic versions as we've done in some form since 2000, we combined our candidates to come up with one definitive list-a more accurate reflection of the global nature of business today. That meant fewer spots, even as the world hit a record-high number of female Global 500 CEOs. The result: All the women on this list either are CEOs or very likely will be either at their current company or a competitor.
The End of an Era?
Companies are pushing for a post-pandemic return to the office. But it may not be possible to put the remote-work genie back in the bottle
Martha Graham & Merce Cunningham - April 1941
Martha Graham stood barely above five foot two, but in the world of dance she was a giant.
RICKY'S CRAZY LIFE GOES UP IN FLAMES
Restraining order after gay bust-up & called deadbeat by ex-manager
A born storyteller, the California ranch girl has worked hard at her craft to become a successful Western novelist and screenwriter.
MARTIN SHEEN My Biggest INSPIRATION
The showbiz veteran shares thoughts about his background, family and celebrated career
Gin 'n' It
Looking for a new drink that mixes the frontier spirit with Jazz Age naughtiness and even a dash of your choice of modern enhancement? Gin'n'It just maybe it.