Reliance Brands increases stake in luxe apparel firm Future 101

Reliance Brands has increased its stake in Future 101 Design by 2.5 per cent. The investment does not fall within related party transaction and none of the company’s promoters or promoter group or group companies has an interest in Future101.

Luxury apparel firm Future101 reported an annual turnover of Rs 27.91 crores, Rs 22.18 crores and Rs 20.85 crores in 2018-19, 2017-18 and 2016-17. The company offers hand-crafted breeches, suits, jackets, skirts, pants, and saris. Reliance Brands, part of Reliance Industries, began operations in 2007 with a mandate to launch and build international and domestic brand equity in the premium to luxury segment across the fashion and lifestyle space. Reliance Brands sells international labels such as Diesel, Hamleys, Bally Kenneth Cole, Thomas Pink, Brooks Brothers, Super Dry and Steve Madden in India. Reliance Brands had earlier bought out L Catterton Asia’s 40 per cent stake in Genesis Luxury, which gave the company rights over luxury brands like Burberry, Canali, Paul Smith, Armani, Just Cavalli, and Jimmy Choo, among others. Reliance Brands has bought toy retailer Hamleys. This acquisition will catapult Reliance Brands to be a dominant player in the global toy retail industry. The worldwide acquisition of the iconic Hamleys brand and business places Reliance in the frontline of global retail.