Future Capital invests Rs. 20 crores in Biba Apparels

Future Capital, the financial arm of the Future Group, has picked up a minority stake in Mumbai-based Biba Apparels Private Limited for Rs. 20 crores, reportedly in the range of 7-15%. The investment is learnt to be in the form of convertible debentures. Biba Apparels retails ethnic women’s wear at multi-brand outlets like Shoppers’ Stop and Lifestyle and at 42 Biba exclusive outlets in Mumbai, Delhi, Hyderabad and Bangalore. Biba’s projected revenues for the current fiscal are about Rs. 60 crores. It plans to expand in the national capital region (NCR), Chandigarh, Ahmedabad, Surat and Kolkata.

Biba has tied up with the Dubai-based retailer Lulu for its overseas foray. The apparel retailer plans to open 20 Biba outlets in Dubai in the next three months, for which it is in the process of identifying locations and getting its label registered. It is also learnt to be in talks with Reliance Retail for supplying a value apparel brand, priced lower than Biba.

Future Capital manages the private equity fund, Indivision Capital, and real estate funds Kshitij and Horizon. Apart from the investment in Biba Apparels, Future Capital also has some small real estate investments. Indivision had recently invested Rs. 50 crores in health and wellness chain VLCC and earlier picked up a 26% stake in construction firm BE Billimoria.

Read the article in The Economic Times.

UTV, Future Group in talks for retail JV

Entertainment and media company UTV Software Communications and Future Group (Pantaloon Retail) are in talks to float a retail venture together. The blueprint for the project is to open Cafe Lounges as a brand extension to UTV’s upcoming youth centric channel in June. The Cafe Lounges targeted at the youth will be a fusion of entertainment, gaming and a lounge where youngsters can relax. While UTV will use its strength in the entertainment and broadcasting space, the Future group will use its expertise in the retail domain to jump start this venture.

The Cafe Lounges will be a brand extension of UTV’s youth centric initiatives and will use these to attract the youth both in terms of footfalls to these outlets as well as to ensure eyeballs on the channel. Work on this front has already begun, and placement agency sources also confirmed that UTV has started recruiting people from the retail and cafe space. The retail outlets planned would act as entertainment zones encompassing all the youth initiatives including the channel. Twenty two cities have been identified, and currently locations for the outlets are being tied up. The partnership between UTV and the Future Group would either be a lease and profit sharing model or a joint venture company, still being discussed by both parties.

Read The Economic Times article.