Future Group in talks with Tresmode to acquire stake

Kishore Biyani-promoted Future Group will increase its

presence in the retail business by acquiring a minority stake in Mumbai-based footwear retail company Tresmode, soon. Future Ventures, the group company which invests in emerging businesses, is in advanced talks to buy 25 percent stake in Tresmode, valuing the footwear retailer at Rs 180 crores.

If the deal goes through, it will put Tresmode among lifestyle companies in which Future Group holds a stake. The retail major provided capital to fuel growth in emerging companies, including ethnic wear retailer Biba, fashion retailer Anita Dnogre’s company AND as it seeks to nurture emerging players in the lifestyle retail sector.

Tresmode, started in 2007 with the first flagship store in Mumbai, plans to expand its retail presence as footwear market in India is growing at 13 percent per annum. The company has set up retail outlets in metros and overseas destinations like Kathmandu.