After two years of suffering, the online apparel retailer Limeroad.com established its first physical location in Karnataka. Two years earlier, value consumer brand V-Mart Retail had purchased the failing social commerce platform. The store is 12,000 square feet in size and spans three stories.
“The brand is set to offer its unique fashion philosophy to customers and become a landmark fashion destination for the region,” the company said in a press release.
When V-Mart acquired the Gurugram-based online fashion store LimeRoad, which was formerly backed by Tiger Global and other private equity firms, the company had stated that it would invest roughly Rs. 150 crore in LimeRoad over the course of three years.
One of India’s biggest value fashion and lifestyle retailers, V-Mart Retail, is listed on the NSE. It has over 450 locations nationwide, most of which are in Tier-2 and Tier-3 cities. The average size of each store is 8,000 square feet.
