Arvind Lifestyle Brands to sell Unlimited fashion chain to V-Mart

The move comes as Arvind Fashions Limited (AFL) continues to lower debt and focus on six key lifestyle and beauty brands

Arvind Lifestyle Brands to sell Unlimited fashion chain to V-Mart

The move comes as Arvind Fashions Limited (AFL) continues to lower debt and focus on six key lifestyle and beauty brands

Shailesh Chaturvedi, Chief Executive Officer, Arvind Fashions.

Apparel retailer Arvind Lifestyle Brands Limited (ALBL), on Thursday announced that it has signed a definitive agreement to sell its value-fashion retail chain Unlimited to retailer V-Mart Retail Ltd., for an estimated Rs150 crore in an all-cash transaction.

The move comes as Arvind Fashions Limited (AFL) continues to lower debt and focus on six key lifestyle and beauty brands. ALBL is a wholly owned subsidiary of AFL. It will also utilize funds from the sale towards working capital purposes.