Future Group increases stake in Biba

    Future Group increases stake in Biba

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    of the is increasing his stake in the brand of ethnic wear from 16 per cent to 42 per cent, by paying in excess of Rs 50 crore. Recently, bought out 26 per cent from one of the erstwhile partners of Biba (Sanjay Bindra) to consolidate its ethnic wear portfolio.

    Meanwhile, Mr Sanjay Bindra has launched a new Indian ethnic wear brand — Seven East — which is available in 14 standalone stores across Mumbai, Pune, Surat, Baroda and Bangalore, and 38 Shoppers Stops across the country.

    Source : The Hindu Business Line