Kishore Biyani-led Future Group is set to buy into Kolkata-based garment manufacturer and menswear brand Turtle. Future Ventures India, the venture capital arm of Future Group, has been in talks with Turtle for some time now. The deal will be finalised in the first week of March, reports Financial Chronicle.
“It is a strategic partnership deal with the Future group. We will close the deal this financial year but I can’t quantify the stake sale, ” quoted Amit Ladsaria, managing director, Turtle, in the report. However, the financial details of the transaction remain unknown.
Till date, Future Ventures India has invested in ethnic women’s wear brand Biba and AND, the brand of fashion designer Anita Dongre.
At present, Turtle operates about 32 stand-alone stores.
— IndiaRetailing Bureau
