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L Catterton Asia picks up 10% stake in India's Future Lifestyle Fashion

Published
today May 21, 2018
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L Catterton Asia, the Singapore-based private equity fund by LVMH Moët Hennessy Louis Vuitton, has invested Rs 170 crore (approx $25 million) into Future Lifestyle Fashion Limited (FLFL) to acquire a 10% stake in the company through a mix of preferential allotment and secondary purchase of shares.
 

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The board had earlier approved issue of 38.22 lakh shares of face value Rs 2 of the company at a price of Rs 445.5 per share aggregating to Rs170 crore on a preferential basis to Spectacular Investment Pte, a wholly owned firm of L Catterton Asia, previously known as L Capital.
 
L Catterton Asia’s investment in FLFL will boost the company’s retail formats, Central and Brand Factory, and help private labels to leverage the global fashion and retail expertise of L Catterton to further strengthen and expand the business.

Commenting on the investment Kishore Biyani, Founder and CEO of Future Group, in a statement said: “Since founding FLFL in 2012, we have successfully created and grown leading Indian fashion brands and are excited to partner with L Catterton Asia to continue building on FLFL’s unique vision. This investment reinforces FLFL’s position as India’s leading lifestyle fashion company while opening up avenues of global collaboration for us.”
 
Chairman and Managing Partner of L Catterton Asia, Ravi Thakran, said: “We are excited about this new partnership with FLFL and believe it offers a unique combination of retail formats which cater to a large and fast growing aspirational consumer segment. We were attracted to FLFL due to its ability to create superior shopping experiences and a curated set of exceptional brands for the Indian consumer.”
 
Founded in 2012, FLFL owns and markets about 30 fashion brands through exclusive brand outlets, department stores and multi brand outlets. FLFL currently has more than 400 stores across the country.

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