Kishor Biyani seeks financial supporter for Lee Cooper India

Indian fashion mogul and Future Group founder Kishore Biyani has hired Kotak Mahindra Bank to find a financial backer for Lee Cooper's apparel business. According to market sources, the label could fetch a 200 million dollars valuation.

Future Lifestyle Fashions (FLF), which controls the domestic rights for the brand, is looking to bring in a financial investor who will hold a large minority interest in the business, reports ‘Times of India’.

The financial journal highlights that the asking valuation of Lee Cooper's Indian business is over 16 times its operating profit of nearly Rs 70 crore last fiscal, turning it into the most valuable market for the British denim brand.

In 2007, Biyani started as a joint venture partner to Lee Cooper India, but later took full charge of the local operations.

Iconix Brand Group own the global brand, which it acquired from Sun Capital Partners two years earlier.