Future Consumer Enterprise has received an approval to enter into a 50:50 joint venture (JV) arrangement with Mibelle AG, Switzerland (a division of Migros Group) by setting up a joint venture entity at Switzerland. The board of directors at their meeting held on August 08, 2015 has approved for the same.
The proposed JV entity is expected to undertake directly or indirectly the business related to manufacture, market, distribute, export and deal into personal care products such as body wash, body lotion, hand wash, face wash, skin care creams and other FMCG products.
Future Consumer Enterprise is the alternate investment arm of Future Group, India's largest retailer. The Future Group is a business group, led by Kishore Biyani, focusing on consumption-led businesses in India and is also one of India’s leading organized multi-format retailers.
