Future Lifestyle Fashions acquires 12% stake in Unico Retail

PTI Posted online: Tuesday, Jun 10, 2014 at 0000 hrs
New Delhi : Kishore Biyani-led Future Lifestyle Fashions today said it has acquired 12 per cent stake in Unico Retail for an undisclosed sum.

Unico Retail sells handbags, belts and wallets under the brand 'Peperone'.

"The company has acquired 12 per cent stake in Unico Retail Pvt Ltd, a company engaged in the business of handbags, belts and wallets under the brand 'Peperone' in India," Future Lifestyle Fashion said in a BSE filing.

Last year, Future Lifestyle Fashion divested minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned AND for Rs 450 crore.

While Future Lifestyle Fashion has exited two investments, it also picked up minority stakes in three companies. These are footwear firms Tresmode and Famozi shoes and Mineral, a designer label from Priyadarshini Rao.