Future Lifestyle Fashions, part of the Kishore Biyani-led Future group, today increased its stake in clothing brand ‘Mineral’ to 37 per cent for an undisclosed sum.
“The company has made further investment in Mineral Fashions Private Ltd to increase its total stake from 22.70 per cent to 37 per cent of the paid-up capital of Mineral,” company sources said.
Mineral, engaged in the business of manufacturing and retail of clothing and fashion accessories, is a designer label from Priyadarshini Rao.
Future Group acquired 60 per cent stake in footwear firm Elisir Lifestyle in October. It divested minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned brand ‘AND’ for Rs 450 crore in November ’13.
Future Retail demerged its fashion business in November 2012 and formed a new company called Future Lifestyle Fashions (FLFL) which has a portfolio of over 40 fashion and lifestyle brands.
