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Future Lifestyle Fashions acquires 12% stake in Unico Retail

LiveMint logoLiveMint 10-06-2014 PTI

Kishore Biyani-led Future Lifestyle Fashions Ltd. on Tuesday said it had acquired 12% stake in Unico Retail Pvt. Ltd for an undisclosed sum.

Unico sells handbags, belts and wallets under the brand “Peperone”.

“The company has acquired 12% in Unico Retail, a company engaged in the business of handbags, belts and wallets under the brand ‘Peperone’ in India,” spokesperson for Future Lifestyle said in a BSE filing.

Last year, Future Lifestyle divested minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned AND for `450 crore.

While Future Lifestyle Fashion has exited two investments, it also picked up minority stakes in three companies. These were footwear firms Tresmode and Famozi shoes; and Mineral, a designer label from Priyadarshini Rao.

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