Kishore Biyani-led Future Group is set to buy into Kolkata-based garment manufacturer and menswear brand Turtle. Future Ventures India, the venture capital arm of Future Group, has been in talks with Turtle for some time now. The deal will be finalised in the first week of March, reports Financial Chronicle.
“It is a strategic partnership deal with the Future group. We will close the deal this financial year but I can’t quantify the stake sale, ” quoted Amit Ladsaria, managing director, Turtle, in the report. However, the financial details of the transaction remain unknown.
At present, Turtle operates about 32 stand-alone stores.
— IndiaRetailing Bureau