RIL buys additional stake in Future101, Genesis Colors

Reliance Industries has raised its stake in luxury apparel firms Future101 Design and Genesis Colors to strengthen its foothold in retail industry. Reliance Brands, "has acquired a further stake of 2.5 per cent in Future101 Design on February 7, 2019, for a consideration of ~1.99 crore, taking its total stake in Future101 to 15 per cent," the firm said. Also, Reliance Retail Ventures, acquired a further stake of 9.44 per cent in Genesis Colors (GCL), for ~45 crore taking its total stake in GCL to 29.07 per cent on the enhanced capital.