India’s Pantaloon Retail and Future Ventures are to consolidate their fashion businesses into a new entity called Future Fashion.

All the fashion brands held by the two companies will be transferred to Future Fashion.

The venture will take Future Ventures’s brands including Indigo Nation, Scullers, Urbana, Urban Yoga, Jealous 21, Biba, Global Desi, Turtle, Celio, Lee Cooper, Clarks, Holii, Daniel Hechter, Manchester United and Privilege Club.

Pantaloon Retail will move brands including Central, Planet Sports and Brand Factory.

The new entity creates financing flexibility for Pantaloon Retail and Future Ventures by enhancing their ability to attract partners and investors and to raise and deploy capital according to their business requirements.

Post this realignment, Future Group, the parent company of Pantaloon Retail and Future Ventures, will have three distinct listed companies with independent growth paths.

Future Ventures will now focus on the food and FMCG sector with a portfolio of FMCG brands, its own rural distribution chain, Aadhar and convenience store chains, KB’s Fairprice and Big Apple.

Pantaloon Retail will have as its core businesses the hypermarket and supermarket chain, Big Bazaar and Food Bazaar, home brand Home Town and electronics specialty store eZone.

“This consolidation will help create the base for the next phase of growth of the Future Group in modern retail,” said Kishore Biyani, CEO of Future Group.

“We grew multiple formats in the early stages of our growth, and now as each one of them has become sizeable, we are giving them independence to propel their growth,” he added.

GB