California-based lifestyle and performance footwear maker Skechers has acquired a 49 percent stake owned by India retail to food company Future Group in the companies' joint venture (JV).
Skechers paid about 580 crore rupees ($82 million) for Future Group’s stake in the joint venture.
Earlier, Skechers divested its product via several business to business and business to commerce platforms in India with the JV.
Future Group expects to book $351.9 million in revenue from footwear sales this year.