Future Venture on the buzz

It is after a long time that Future Ventures today hit Rs.10 and that was on the opening bell. Though it has come off the double digit, it is now at Rs.9.69, up over 2%. Volumes are small at 4700 shares only.

The stock is doing well today on the back of news that the company is acquiring 33.3% stake in KFC Shoemaker for an undisclosed amount. KFC Shoemaker sells footwear and bags under Tresmode and Solvoga Brand and once approvals are in for the ongoing demerger process fashion business of Future Venture India, KFC will be part of the new company Future Lifestyle Fashion. Once this is completed, KFC’s operational performance will form part of the consolidated performance of Future Ventures.

If one may recollect as per the demerger plans, Future Retail will Big Bazaar and Food Bazaar while brand and lifestyle businesses such as Central and Brand Factory will come under Future Fashion.