Future Lifestyle hikes stake in formal wear brand Giovani

Future Lifestyle Fashions Ltd (FLF), the fashion apparel, accessories and associated products arm of Kishore Biyani-led Future Group, has increased its stake in Rachika Trading Pvt Ltd, which sells apparel and accessories under its brand Giovani.

Future Lifestyle, which was formed after a group restructuring involving Future Ventures (now known as Future Consumer Enterprise Ltd) and Future Retail, has made an undisclosed fresh investment in Rachika Trading to up its holding from 80 per cent to 96 per cent, it said late on Tuesday.

Earlier this year, the FLF had increased its stake in ethnic products firm Indus Tree Crafts Pvt Ltd from 63.34 per cent to 72.16 per cent. Indus Tree Crafts is designing, creating, exporting, retailing and distributing a range of environmentally and socially sustainable products under brand name 'Mother Earth'. Its product range includes clothing, linen, crockery, accessories, food and gift and decor.

Last December, it also increased its stake in clothing brand 'Mineral' to 37 per cent. Mineral, engaged in the business of manufacturing and retail of clothing and fashion accessories, is a designer label from Priyadarshini Rao.

Future Lifestyle Fashions, which now houses the fashion business spliced out of Future Retail and Future Consumer, has a portfolio of over 40 fashion and lifestyle brands.

In the recent past, it picked minority stakes in brands such as Tresmode, Famozi, accessories brand Peperone and women apparel firm Desi Belle.

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