Future Venture India (FVIL) has agreed to make investment in new business venture- KFC Shoemaker- (KFC SPL).Post completion of issue and allotment of equity shares by KFC SPL ,FVIL shall hold 33.30% of the issued and paid up share capital of KFC SPL.
Further, on completion of the investment, KFC SPL would be an associate of FVIL and operational performance of the business will form part of the consolidated financials of Future Venture in terms of applicable accounting policies.On approval of the ongoing demerger proces of the fashion business of FVIL, KFC SPL will be part of new company Future Lifestyle Fashion.
KF SPL is primarily engaged in the business of sourcing footwear from domestic as well as foreign suppliers and undertakes retail sale of leather shoes, footwear, bags under the brand name Tresmode and Solvoga.
