PE Firm L Catterton Invests Rs 170 Cr in Future Lifestyle Fashion

FLF, which is the largest department store chain in the country has Central, Brand Factory and more than a dozen brands including Indigo Nation and Lee Cooper operating under single market leader.
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Singapore-based private equity fund L Catterton Asia run by LVMH Moët Hennessy Louis Vuitton, has invested Rs 170 crore into Future Lifestyle Fashion.

FLF, which is the largest department store chain in the country has Central, Brand Factory and more than a dozen brands including Indigo Nation and Lee Cooper operating under a single market leader. The board approves the issue of 38.22 lakh shares of face value Rs2 of the company at a price of Rs445.5 per share on a preferential basis to Spectacular Investment Pte," said FLF statement to the stock exchange.

Spectacular Investment Pte is wholly owned by L Catterton Asia, previously known as L Capital. FLF stock closed at Rs437.25 a piece on the BSE, falling 0.9% during the trading hours.

L Catterton has been exiting few of its investments over the past three years while at the same time it is on the spree of adding apparel brands to its portfolio like it counts retailer Genesis Luxury among its Indian portfolio firms. It exited ethnic retailer Fabindia about two years ago while it sold its stake in the country’s largest multiplex chain operator PVR nearly three years back.

Spanned over an area of 5.4mn sq ft spread across 90 cities, FLF has a diversified portfolio of over 30 brands straddling different segments and price points. The company has been logging double-digit same-store sales growth in past four quarters and outperforming industry due to better inventory management and focus on premiumisation, say, analysts.

The company has identified six power brands which are owned, licensed and invested within its portfolio, contributing about 64% of FLF’s total brands. The Lee Cooper selling apparel company has also got the sole rights for the brand's footwear business from next fiscal.

 
 
 
 
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