Future Lifestyle Fashion raises funds

Future Lifestyle Fashions (FLF) will raise money by selling its investments in fashion brands. The funds will be used for deleveraging its balance sheet. A wholly owned special purpose vehicle will be formed for transfer of identified investments held by the company. FLF owns many brands and also has exclusive manufacturing and marketing licenses for India for certain global brands. It has also invested in fast growing fashion brands such as Cover Story, Clarks, Turtle, Mineral, Spunk and Giovani, among others, which are owned by various investee companies.