Future Lifestyle hikes stake in 'Mother Earth' to over 72%

Kishore Biyani-led Future Lifestyle Fashions Ltd today hiked its stake in environment friendly products manufacturer and retailer brand Mother Earth to over 72 per cent.
"The company has made further investment in Indus Tree Crafts Pvt Ltd (ITCPL) to increase its total stake from 63.34 per cent to 72.16 per cent," Future Lifestyle Fashions said in a BSE filing.
Financial details of the transactions were, however, not available.
Indus Tree Crafts is engaged in the business of designing, creating, exporting, domestic retailing and distribution of a wide range of environmentally and socially sustainable products under brand name 'Mother Earth'.
Its product range includes clothing, linen, crockery, accessories, food and gift and decor.

In the recent past, Future Group has been investing and later on divesting stakes in many small companies.

In October 2014, the company acquired 60 per cent stake in footwear firm Elisir Lifestyle. In the same month, Future Lifestyle Fashions divested 31.5 per cent of its stake in Celio Future Fashion Ltd to retain 3.5 per cent stake in the company.
The company also picked up minority stakes in brands including Tresmode, Famozi, accessories brand Peperone, women apparel firm Desi Belle and Mineral, a designer label from Priyadarshini Rao.
In November 2013, Future Lifestyle divested minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned brand 'AND' for Rs 450 crore.

At that time Biyani had stated that Future group was exiting from mature investments that were made more than five years ago.
Future Retail demerged its fashion business in November 2012 and formed a new company called Future Lifestyle Fashions (FLFL). FLFL has a portfolio of over 40 fashion and lifestyle brands.