Future Lifestyle Fashions (FLFL), the fashion and accessory arm of India-based retail company Future Group, has acquired a 60% stake in India-based footwear company Elisir Lifestyle for an undisclosed amount, the Economic Times has reported.
Elisir Lifestyle, which was founded in July, manufactures and distributes leather shoes and accessories.
Future Retail restructured its fashion business in 2012, in the process forming FLFL, which oversees a portfolio of over 40 fashion and lifestyle brands.
FLFL has been busy investing in several small companies over the past year, acquiring minority stakes in fashion brands Biba Apparels, AND, Famozi, Tresmode, Desi Belle and Mineral, Peperone and Priyadarshini Rao.
FLFL also announced last week that it was to divest most of its stake in Celio Future Fashion, reducing its share from 31.5% to 3.5%.