Kishore Biyani-led Future Lifestyle Fashions has acquired 12 percent stake in Unico Retail for an undisclosed sum, says a PTI report. Unico Retail sells handbags, belts and wallets under the brand ‘Peperone’.
“The company has acquired 12 percent 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 incliuding Tresmode and Famozi shoes and Mineral, a designer label from Priyadarshini Rao.