Future Lifestyle Fashions (FLF), the fashion apparel, accessories and associated products arm of Kishore Biyani-led Future Group, has acquired 12 per cent equity stake in the Delhi-based handbags maker Unico Retail Private Limited for an undisclosed amount, according to a stock market disclosure.
VCCircle was the first to report the development on April 15.
Future Lifestyle was formed after Future Ventures, now known as Future Consumer Enterprise Limited, hived off its lifestyle investments as part of the group restructuring.
Since listing on October 1, this is the third investment by Future Lifestyle Fashions. In January this year, Fashion Lifestyle had acquired 27.5 per cent stake in Resource World Exim Pvt Ltd, a company engaged in women’s fashion apparel business under the brand ‘Desi Belle’ in India, for an undisclosed amount.
Previously, in December last year, it had invested Rs 55 lakh to buy an 11 per cent stake in footwear brand Famozi.
The company has also struck two exits from its previous investments, including divestment of holding in AND Designs and Biba Apparel.
Founded in 2010, Unico Retail makes accessory lifestyle brands & products like handbags, belts and wallets under the brand Peperone in India. The company started as a manufacturer of handbags for other brands in 2011 and launched its own handbag label in 2012. It has an employee strength of 150.
(Edited by Joby Puthuparampil Johnson)