Renowned retail giant ‘Future Group’ is very close to picking up about 20% stake in menswear brand Turtle. The deal is expected to be closed shortly. According to an industry source, this will be a win-win situation for Turtle as it will get additional shelf space on a priority basis at Future Group's retail formats.

"The Future Group has several retail businesses such as Central mall, Brand Factory, Pantaloon, Big Bazaar, etc, where Turtle can get shelf space on a priority basis. This will increase sales and eventually add value to the stake sold," said the source.

Future Group is rumored to buy the stake through its flagship company, Pantaloon Retail India. There has been no confirmation on this move, from Future Group, yet it has been confirmed that the deal won't be through Indivision, the private equity fund under Future Capital.

With an investment of Rs 7-8 crore, Turtle will witness a jump of 20-23% over the amount invested last fiscal in the financial year 2009-20010. The company's thrust this fiscal will be on increasing efficiency and bottom line. Presently it has 32 exclusive outlets, 60 shop-in-shop formats and around 1,200 multi-brand outlets.

There have been plans to add 12 exclusive outlets and 28 multi-brand outlets this fiscal. Turtle's products are now available through 60 shop-in-shop formats in malls such as Central, Globus, and lifestyle stores like Shoppers Stop, Pantaloon and Lifestyle. Shop-in-shop formats and exclusive outlets contribute 20% each to sales and the rest comes from multi-brand outlets.

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Related Books:
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Posted by Naresh Koshti on 29 May, 2009 2:58:46 PM IST #