Future Ventures India (FVIL) has made additional investment in Indus-League Clothing (ILCL) by subscribing to 939,502 equity shares of ILCL. ILCL is a subsidiary of FVIL, in which FVIL holds 95.29% of the paid-up equity share capital of ILCL. The total consolidated income of ILCL for the nine months ended December 31, 2011 is Rs 432.74 crore.
ILCL is engaged in the business of branded apparels and accessories using its brands Indigo Nation, Scullers, Jealous, Urbana, Urban Yoga, Daniel Hechter, Lee Cooper and John Miller. It has recently entered into licensing arrangement for use of the brand Manchester United.
ILCL holds 50% equity into Cello Future Fashion and 25% equity into Turtle, which are focused on Men's apparels using their brands Cello and Turtle respectively.
Future Ventures currently has 13 companies in its portfolio which own brands in fashion, FMCG, food processing and home products. The company invests in businesses which are strategically important to the group's retail business. It plans to use a large part of the funds for acquiring new businesses while a small part of the proceeds will be used to grow the existing businesses.
