Future Lifestyle news and archive

Future Lifestyle to acquire Pepe Jeans India

Kishore Biyani-led Future Lifestyle is in advanced stages of negotiations with Pepe Jeans to acquire its local arm and merge with its own Lee Cooper portfolio to create one of the country’s biggest casual wear, suggest media reports. Pepe Jeans India is a fully owned subsidiary of Barcelona-based Pepe Jeans Group, which counts LVMH-owned L...

Retail

Future Lifestyle looking to rev up investment in Koovs

Future Lifestyle Fashions is looking to raise its investment in London-listed strategic partner Koovs PLC suggest media reports. Future Lifestyle will take its holding up to a maximum of 29.99 per cent from 16.25 per cent currently. This will be raised between 9.5 million pounds to 10.5 million pounds for Koovs. This additional investment and...

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Business

FEL to sell its 16 pc stake to Future Lifestyle

Homegrown retail major Future Enterprises (FEL) will be selling its 16 per cent stake to Future Lifestyle for Rs 380 crores, they have told the BSE. FEL owns the physical assets or the store formats and infrastructure assets in the stores of Future Retail and Bharti Retail. Future Enterprises was carved out of restructuring of Kishor Biyani led...

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Business

Future Lifestyle’s Q1 net profit stands at 42.33 per cent

Future Lifestyle Fashion (FLFL), which is part of Kishore Biyani-led Future Group, reported a 42.33 per cent increase in quarterly net profit. For the quarter ended June, net profit stood at Rs 3.53 crore while net sales grew 14.85 per cent to Rs 785.97 crore. This was helped by double-digit growth in same-store sales. The contribution from...

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Business

Future Lifestyle Fashion to raise Rs 500 crore

Future Lifestyle Fashion is planning to raise Rs 500 crore from the domestic or overseas market on a private placement basis so as to bankroll its fashion retail business growth. This will be done through issuing non-convertible debentures. The funds will be borrowed in Indian or foreign currency by issue of debt instruments for an amount of up...

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Business

Future Retail increases stake in Mother Earth

Future Lifestyle Fashions has increased its stake in Mother Earth brand to over 72 percent. “The company has made further investment in Indus Tree Crafts (ITCPL) to increase its total stake from 63.34 percent to 72.16 percent," Future Lifestyle Fashions said in a BSE filing. Neelam Chibber, Managing Director of Industree Crafts runs Mother...

Apparel

Future Lifestyle Q1 profit slides to Rs 3.6 cr

Future Lifestyle Fashions has reported that its first-quarter net profit decreased less than half from a year earlier,as the company accounted for sharply higher depreciation cost. Depreciation rose to Rs 42 crores in the past quarter from Rs 27 crores a year earlier. Net profit for the April to June quarter fell to Rs 3.6 crore down from Rs 7.7...

Apparel

Apurv Bagri’s Metmin Investment acquires Spykar Denim

The latest media buzz is that non-resident Indian businessman Apurv Bagri’sMetmin Investment Holdings has bought a controlling 30 percent stake, in Spykar Denim, from private equity firm Avigo Capital. Metmin already holds the stake jointly with Avigo Capital in Spykar Lifestyle. The company was valued at Rs 200-220 crores. Bagri is the...

Apparel

Future Lifestyle acquires stake in Unico

Kishore Biyani-led Future Lifestyle Fashions has acquired a 12 percent stake in Unico Retail. Unico Retail is a company engaged in the business of handbags, belts and wallets under the brand Peperone in India. Last year, Future Lifestyle Fashions divested minority stakes in ethnic wear firm Biba Apparels and designer Anita Dongre-owned AND for...

Apparel

Future Lifestyle to raise Rs 300 cr for expansion

Kishore Biyani-led Future Lifestyle plans to raise Rs 300 crores on a preferential basis to carry out its expansion plans. The funds would be utilized to bring down debt. The company has informed the Bombay Stock Exchange that its board will meet and approve issue of equity shares or debentures to one or more persons on preferential basis....

Apparel

Future Lifestyle suffers net loss of Rs 187 cr in Q4

Future Group’s fashion and lifestyle retail arm, Future Lifestyle Fashions, has reported fourth-quarter loss of Rs 187 crores. This is because of a one-time depreciation cost of Rs 392 crores. However, during the quarter, the firm reported same-store-sales growth of 10.5 percent for Central format and 8.2 percent for the entire retail business....

Apparel

Biyani grabs Spykar biz for Rs 100 cr

Finally, leaving aside several aspirants lined up to grab Spykar denim business, Kishore Biyani's Future Lifestyle Fashion is said to be buying 75 percent stake in the company for Rs 100 crores. Of late, Biyani has been pushing the group’s fashion business, which brings in higher margins, by launching private labels or acquiring fashion brands....