New Delhi:Value retailer V-Mart Retail Ltd., which is acquiring fashion stores Unlimited from Arvind Lifestyle Brands Ltd, plans to gradually rebrand them as its flagship V-Mart brand. As part of the transaction, ALBL will sell assets of the 74 retail stores— warehouses, inventory and the ‘Unlimited’ brand to V-Mart at its book value. “Overall we will change it to V-Mart and see it as a one brand, one India focus," said Lalit Agarwal, managing director, V-Mart Retail on Friday. As part of the transaction V-Mart will acquire fixed assets of all running stores and warehouses, leases, less than one year old inventory, and other current assets of the Unlimited business along with the store brand Unlimited. In the current fiscal it plans to add 40 more stores under the V-Mart brand.

Source: Mint July 23, 2021 12:56 UTC