FVIL acquires 33 percent stake in KFC Shoemaker

Future Ventures India (FVIL) has invested an

undisclosed sum in KFC Shoemaker which has footwear brands like ‘Trèsmode’ and ‘Solovoga’. It has picked up 33 percent stake in the company. This is the second investment by the firm in the footwear business. It had earlier put money in Clarks Future Footwear, a 50:50 JV with UK’s C&J Clark International. KFC Shoemaker is primarily engaged in the business of sourcing footwear from domestic as well as foreign suppliers and undertakes retail sale of leather shoes/footwear/bags under the brand name Tresmode and Solvoga. It also plans to open exclusive stores as well as shop-in-shops within departmental and shoe chain stores in the Middle East and South East Asia and other emerging markets.

Its distribution channel comprises of Trèsmode stores in addition to shop-in-shops within outlets run by Shoppers Stop, Central, Pantaloon and Reliance Retail across the country. The firm had revenues of Rs 25.89 crores for FY13 as against Rs 21.52 crores in FY12. On completion of the investment, KFC Shoemaker would be an associate of FVIL. On approval of the on-going demerger process of FVIL, KFC Shoemaker will be part of investment of the new company Future Lifestyle Fashion.