Future Group inks joint venture pact with Swiss firm Mibelle

New Delhi: Future Group has signed a joint venture agreement with Swiss personal care products maker Mibelle to develop and sell a range of consumer products exclusively for India. The first products under the Swiss-Indian label, to be manufactured in Switzerland and at the local factories in India, should be available from early 2016, officials said.

The JV marks Mibelle’s entry in the Indian market. “This is one more step in setting up the Mibelle Group as an international operator. We will learn many new things because we are moving in a completely new cultural circle,” Luigi Pedrocchi, chief executive officer of the Swiss firm, said. Mibelle, owned by the UK-based Migros Group, generates sales of approximately €381 million, or about Rs 2,750 crore, a year.