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.
This story has been provided by NewsVoir.will not be responsible in any way for the content in this article. (ANI/NewsVoir)
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor