Future Lifestyle looks to monetise brands
Future Lifestyle Fashions (FLF) Ltd has transferred its holding in investee brands into a subsidiary, FLFL Lifestyle Brands Ltd as part of efforts to raise around R450 crore.
“FLF plans to raise R450 crore by unlocking value in its stake in its investee brands portfolio,” the company said in a filing to BSE.
In another filing, the company said that it has incorporated a wholly-owned subsidiary company, FLFL Business Services with effect from March 27.
The company said that over the years, it has invested in multiple fashion brands backed by talented designers and entrepreneurs at an early stage. FLF acquired stakes ranging from minority to majority in these brands.
“FLF believes that each of these brands hold significant value and has immense potential in becoming leading brands in their respective segments,” they said.
Post the transaction, FLF will hold 49 per cent stake in FLFL Lifestyle Brands Ltd. These investee companies will continue to be run independently by their respective entrepreneurs and professionals.