Finance Notes: Future Inks Deal With RIL To Open Umbro Stores In India
Kishore Biyani's Future Lifestyle Fashion has struck a deal with Iconix Lifestyle, a joint venture between the Iconix Brand Group and Reliance Brands, "to open stores for British sportswear brand Umbro." Reliance Brands, a unit of billionaire Mukesh Ambani's Reliance Industries (RIL), controls the India rights for more than 20 int'l fashion brands of Iconix as part of an equal joint venture "struck last year" (TIMES OF INDIA, 8/22). ... The Board of Control for Cricket in India posted a net income of Rs 350 crore ($3.6B), while its gross revenue stood at Rs 950 crore ($9.5B) during the fiscal year '12-13. The BCCI, "considered the world's richest cricket body," has earned a surplus of Rs 382.36 crore in '11-12 (PTI, 8/22).