L Catterton Asia to acquire 10 pc stake in Future Lifestyle Fashions

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Future Lifestyle Fashions announced that L Catterton Asia, the Asian unit of the largest and most global consumer focused private equity firm in the world, will make a significant investment in Future Lifestyle Fashions.

L Catterton Asia will acquire an approximately 10 percent stake in FLFL through a mix of preferential allotment and secondary purchase of shares.

L Catterton Asiafs significant investment in FLFL will enable FLFLfs retail formats, Central and Brand Factory, and own brands to leverage the global fashion and retail expertise of L Catterton to further strengthen and expand the business.

Kishore Biyani, Founder and CEO of Future Group, stated, “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. We are well positioned as the preferred fashion destination in India and with L Catterton’s pedigree and fashion expertise, we will continue to be a trendsetter through our collective deep understanding of culture, style code, passion and aspirations of Indian consumers. This investment reinforces FLFL’s position as India’s leading lifestyle fashion company while opening up avenues of global collaboration for us.”

Commenting on the investment, Ravi Thakran, Chairman and Managing Partner of L Catterton Asia, stated, “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. We have jointly identified areas where we can bring our unparalleled fashion and brand experience to unlock value for all stakeholders. The underpenetrated retail sector in India offers significant opportunity and we look forward to working alongside Biyani and the outstanding management team throughout this next phase of the Company’s growth.”

Rahul Garg, Partner, Premji Invest said, “Over the last 4 years, we have been privileged to work with Mr. Biyani and his management team in scaling up the business across all verticals and unlocking significant shareholder value. This has made FLFL into one of India’s most admired and profitable fashion retailer with a growing bouquet of owned brands. We will continue to be closely involved in the company’s next phase of value creation along with the L Catterton team.”

This transaction will enable FLFL along with L Catterton Asia, to continue enhancing shareholder value created in partnership with existing private equity investor Premji Invest.

Lazard India acted as the sole financial adviser to FLFL and its shareholders.

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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