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Arvind Fashions Sells Unlimited Retail Business To V-Mart


Arvind Fashions Sells Unlimited Retail Business To V-Mart
Jul 22 2021, 6:12 PM
July 22 2021, 5:30 PM
July 22 2021, 6:12 PM
V-Mart Retail Ltd. has agreed to acquire assets of Arvind Lifestyle Brands Ltd.’s ‘Unlimited’ business for about Rs 150 crore, expanding its presence to southern and western region in a hope to become a pan-India retailer.As part of the deal, the wholly-owned subsidiary of Arvind Fashions Ltd. will sell fixed assets of all 74 stores and warehouses, leases, identified inventory, contracts, assigned trademarks and goodwill, and other c.
V-Mart Retail Ltd. has agreed to acquire assets of Arvind Lifestyle Brands Ltd.’s ‘Unlimited’ business for about Rs 150 crore, expanding its presence to southern and western region in a hope to become a pan-India retailer. ....

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Covid india update: Covid-19 hits India business of global fashion retailers hard


Synopsis
India saw the world’s second-largest Covid-19 outbreak, necessitating back-to-back lockdowns and local shutdowns, which hit trade. Fashion was among the worst-hit segments. Retailers continue to grapple with low footfalls in high-street stores and malls despite the eventual easing of curbs.
AP
Despite most companies reporting sequential growth, driven by festivals, winter sales and online shopping, several fashion retailers who were hoping for business at their offline stores to return to pre-pandemic levels by March, now expect full recovery to happen only in the second half of this year.
NEW DELHI: Top fashion and lifestyle retailers Levi Strauss and Hennes and Mauritz (H&M) have said their India operations were among the most affected globally by the coronavirus pandemic. ....

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