Future Lifestyle Fashions

Kishore Biyani-led Future Group’s subsidiary ‘Future Lifestyle Fashions’ is reportedly acquiring a considerable stake in the popular fashion retailer ‘Koovs’. The business magnate will take over 29.9 percent stake in the fashion firm for about Rs 140 crore. This particular move will make Future Group the largest stakeholder in London-listed e-commerce company Koovs. According to the reports, the fashion company will first issue 57.87 million new shares that account for a 24.8% stake to Future Lifestyle Fashions at 10 pence apiece in cash, raising around $7.6 million. In this regard, the company stated, "The board of directors of the company in its meeting held today has approved the proposal to invest an amount up to GBP 15.3 millions in one or more tranches by ...

Premji Invest, the family office of Wipro Head Ajim Premji is eyeing to invest $250 million in the holding company of Kishore Biyani's Future Group. According to a report published in leading daily, Premji invest can pick up 6 percent stake sale in Future Retail at a time when the market is already buzzing discussions over Amazon to pick up a 10% stake in brick and mortar retailer. Kishore Biyani's move to shore up funds has come at a time when US giant Walmart has taken a huge bet on India by investing $16 billion in homegrown e-commerce startup Flipkart valued at $21 billion. It is crucial to note that PremjiInvest had earlier bought 8 per cent stake the group's branded apparel chain in Future Lifestyle Fashions, however, it had half of its stake to private equity fund L Catterton ...

Tag: Future Lifestyle Fashions

Kishore Biyani’s Future Group Acquires Stakes In Koovs.com

Ajim Premji to Invest $250 Mn in Future Group, Amazon in talks with Biyani