The Kishore Biyani-led Future Group had announced Rs150 crore joint venture last year. File photo: MintBengaluru: Future Retail Ltd Tuesday said it has formed an equal joint venture with Khimji Ramdas LLC to form a joint venture firm to operate FBB apparel stores in Oman and other member states of the Gulf Cooperation Council (GCC). Both Future Retail and Khimji Ramdas will have the right to appoint three directors to the board of the new company which will be based in Oman, Future Retail said in a filing to BSE. The Kishore Biyani-led Future Group had announced the Rs150 crore joint venture last year. Future Group will put in Rs75 crore through its various listed entities, including Future Lifestyle and Fashion Ltd and Future Consumer Ltd, Mint reported on 17 May.

Source: Mint March 13, 2018 16:41 UTC