Future Group ups stake in Indus League

Wednesday, 27 July 2011

Future Ventures India (FVIL), Future Group's investment and business management arm has acquired an additional 5.14 per cent stake in Indus League Clothing Ltd (ILCL), for an undisclosed amount. With the latest stake purchase, FVIL's total stake in ILCL has gone up to 90.84 per cent. Kishore Biyani’s group had initially picked up around 15 per cent stake in Indus-League for Rs 50 crores in March, 2008, and invested a total of around Rs 385 crores in the company to increase its stake to 85.7 per cent. As of February 28, 2011, Indus League operated through 88 exclusive brand outlets and 128 multi-brand outlets, including 81 Future Group outlets. For the nine-month period ended December 31, 2010, Indus League had aggregate sales of Rs 199.70 crores and net profit after tax of Rs 3.7 crores.

Meanwhile, Indus League has launched a mobile-based customer loyalty initiative called One League. Earlier, Indus League used to have different loyalty programs for each of its brands and noticed that there was duplication in the customer base. It was also an inconvenience to customers to carry multiple loyalty cards. So the group decided to simplify its schemes through a unified model. This loyalty program helps customers enjoy various benefits across all its brands like John Miller, Indigo Nation, Jealous 21, Urban Yoga, Urbana, Daniel Hechter, Scullers and Headquarters. Once registered, customers can manage the loyalty points through their mobiles across all eight brands and across all EBOs of Indus League.

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