Future Group plans divestment in Clarks, Celio & Turtle

Future Group which is working towards a special retail model for its fashion brands, is, on the other hand, also looking at divesting its stake in three fashion brands. Clarks, Celio and Turtle will be divested in next one year.

According to CP Toshniwala, CFO, Future Group, the company will raise Rs 800 crore by selling stake in these three brands. Future Group holds 50 per cent stake in Celio and Clarks which in Turtle the stake is 26 per cent.

Along with fashion brand, the group also looks at finding PE partners for eZone, the electronic retail store and HomeTown, the home furnishing and improvement retail store.

Future Retail has a debt of Rs 4,500 crore and lot of steps have been taken to curb this, the biggest being selling Pantaloons to ABRL.

 

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