Future Retail, the flagship company of the Kishore Biyani-led Future Group, has agreed to acquire FabFurnish.com, an Indian online furniture store. Future Retail will make the acquisition by purchasing all the shares of Bluerock eServices, which operates FabFurnish.com.
Biyani said his group would leverage FabFurnish’s online platform and delivery model to expand the group’s presence in markets where it had minimal reach.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”2″ ]
The deal will provide an exit for Rocket Internet, a German e-commerce incubator, which funded FabFurnish as well as companies such as Jabong and Food Panda. Rocket Internet invests in internet companies across five industry sectors: food and groceries, fashion, general merchandise, home and living, and travel.
Khaitan & Co, led by director Ketan Kothari with assistance from principal associate Stuti Galiya and associate Abhinav Bhatia, advised FabFurnish and Bluerock eServices on the deal.
Shardul Amarchand Mangaldas & Co partner Arvind Sharma advised Future Retail.
[/ihc-hide-content]
