• Home
  • News
  • Business
  • Future Lifestyle increases stake in Mineral to 37 percent

Future Lifestyle increases stake in Mineral to 37 percent

By Sujata Sachdeva

loading...

Scroll down to read more

Future Lifestyle Fashions, part of the Kishore Biyani-led Future group increased its stake in clothing brand 'Mineral' to 37 percent for an undisclosed sum. “The company has made further investment in Mineral Fashions, a designer label from Priyadarshini Rao to increase its total stake from 22.70 percent to 37 percent of the paid-up capital of Mineral,” company announced in a BSE filing.

Recently, the company also acquired a majority 60 per cent stake in footwear firm Elisir Lifestyle for an undisclosed amount. On the other hand, it divested a minority 31.5 per cent stake in Celio Future Fashion for an undisclosed amount. Future Lifestyle now holds a 3.5 per cent stake in Celio Future Fashion.

This is in line with the company’s strategy to exit from its non-core businesses. In November last year, Future Lifestyle Fashions had divested its minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned AND for Rs 450 crores.

future lifestyle and fashions
mineral fashion