Future Lifestyle sets up arm to monetise brands

In its efforts to raise Rs 450 crores funds, Future Lifestyle Fashions (FLF) has tranferred its holding in investee brands into a wholly-owned subsidiary FLFL Lifestyle Brands. The idea is to “FLF plans to raise Rs 450 crore by unlocking value in its stake in its investee brands portfolio,” FLF has said in a BSE filing. In another filing, the company said it has incorporated a wholly owned subsidiary company, FLFL Business Services with effect from March 27.