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Published
Oct 8, 2018
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Future Lifestyle in talks to acquire Pepe Jeans India unit

Published
Oct 8, 2018

Kishore Biyani-led Future Lifestyle Fashion Ltd (FLFL) is looking to bolster its brand portfolio by acquiring a stake in the Pepe Jeans India unit.

Future Lifestyle in talks to acquire Pepe Jeans India unit - Pepe Jeans


The fashion retailer is believed to be in advanced stage of negotiations for the acquisition of Pepe Jeans in a deal estimated to be around Rs 1200 crore (approx $162 million), the Economic Times reported, citing two an anonymous source.
 
The deal makes sense as L Catterton Asia, the Singapore-based private equity fund by LVMH Moët Hennessy Louis Vuitton is a majority shareholder in the Pepe Jeans Group and had recently invested Rs 170 crore (approx $25 million) into Future Lifestyle Fashion Limited (FLFL) to acquire a 10% stake.

“L Catterton is a common investor in both these firms (Pepe and Future Lifestyle) and the deal will be valued at more than Rs 1,200 crore. The due diligence is over and the acquisition will be announced in a few days. Both brands put together will have retail sales of over `2,000 crore,” said one of the people.
 
“It makes sense for the Future Group to add Pepe to their portfolio as the brand has a global appeal, growing well and has a strong franchise. Pepe can also leverage the Future Group’s retail network to strengthen its reach,” said Harminder Sahni, founder of retail consultancy firm Wazir Advisors.
 
Founded in 1973 in London, Pepe Jeans Group operates through two main brands — Pepe Jeans and Hackett. Pepe Jeans currently operates over 200 branded outlets in India. It had reported revenue of Rs 428 with a profit of Rs 29 crore during the last fiscal year.
 
FLFL is India’s largest integrated fashion company with a diversified portfolio spanning 30 fashion brands (both company-owned and licensed) such as Lee Cooper and Indigo Nation.

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