Future Lifestyle acquires majority stake in Elisir

Future Lifestyle Fashions, part of the Kishore Biyani-led Future group, today acquired majority stake in footwear firm Elisir Lifestyle for an undisclosed sum, says a PTI report.
Future Lifestyle acquires majority stake in Elisir

Future Lifestyle Fashions, part of the Kishore Biyani-led Future group, today acquired majority stake in footwear firm Elisir Lifestyle for an undisclosed sum, says a PTI report.

"The company has acquired 60 per cent stake in Elisir Lifestyle Pvt Ltd, a company engaged in business of manufacture, supply and distribution of footwear and accessories in India," Future Lifestyle said in BSE filing.

In the recent past Future Group has been investing and later on divesting stakes in many small companies.

In November last year, Future Lifestyle divested minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned brand 'AND' for Rs 450 crore.

At that time Biyani had stated that Future group was exiting from mature investments that were made more than five years ago.

Last week, Future Lifestyle announced divestment of 31.5 per cent of its stake in Celio Future Fashion Ltd. Upon completion in terms of the documents, FLFL will hold 3.5 per cent stake in the company.

The company also picked up minority stakes in brands such as Tresmode, Famozi, accessories brand Peperone, women apparel firm Desi Belle and Mineral, a designer label from Priyadarshini Rao.

Future Retail demerged its fashion business in November 2012 and formed a new company called Future Lifestyle Fashions (FLFL). FLFL has a portfolio of over 40 fashion and lifestyle brands.

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