LimeRoad deal and hall of fashion marketplace flameouts

LimeRoad deal and hall of fashion marketplace flameouts


Bhumika Khatri

19 reads

Bhumika Khatri

19 reads

The Crux newsletter this week. Tiger-backed LimeRoad joins a group of startups in fashion commerce that have sold their business or wound up. Why is this category so hard to crack?

October 21, 2022


Style may be eternal, but fashion-commerce ambitions are definitely not. Just this week, Tiger Global-backed LimeRoad entered a long list of startups in the space to throw in the towel.

The company, founded in 2012, agreed to be acquired by value retailer V-Mart for about $4 million (Rs 32 crore). It’s pretty much a distress sale, given that LimeRoad’s lifetime funding tally is $52 million.

With this deal, V-Mart can scale up its omnichannel play in the value-fashion segment. It owns 410 departmental stores and intends to turn the ones in smaller cities into local-experience centres. In FY22, V-Mart had revenues of Rs 1,680 crore with a profit of Rs 11.64 crore.

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