Kishore Biyani of the Future Group is increasing his stake in the Biba brand of ethnic wear from 16 per cent to 42 per cent, by paying in excess of Rs 50 crore. Recently, Future Group bought out 26 per cent from one of the erstwhile partners of Biba (Sanjay Bindra) to consolidate its ethnic wear portfolio.
Meanwhile, Mr Sanjay Bindra has launched a new Indian ethnic wear brand — Seven East — which is available in 14 standalone stores across Mumbai, Pune, Surat, Baroda and Bangalore, and 38 Shoppers Stops across the country.
Source : The Hindu Business Line
