Pantaloon to demerge fashions business, list new entity
Future Group firm, Pantaloon Retail India Limited (PRIL) and Future Ventures India Limited (FVIL) will demerge their fashion businesses into a new listed unit to create India's Leading Integrated Fashion Company that will simplify the businesses into three main segments.
The respective Boards approved the demerger of the fashion businesses of PRIL consisting of its Central, Brand Factory, aLL and Planet Sports formats, fashion brands, sourcing and distribution businesses, and the demerger of the fashion businesses of FVIL consisting of Indus League, Lee Cooper, Celio, Holii, Indus Tree and strategic investments in AND, Biba and Turtle into Future Fashion.
Post this realignment, the Future Group will have three distinct listed companies that emerge as market leaders in their businesses with independent growth paths.
PRIL will have as its core businesses the country's leading hypermarket and supermarket chain, Big Bazaar and Food Bazaar, which along with aligned formats, and Home Town, eZone currently operate around 11 million square feet of retail space. In addition, the company will continue to own its existing investments in subsidiaries involved in supply chain solutions, sourcing, ecommerce, office supplies, and joint ventures in insurance and textile mills in Mumbai.