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Friday, 29 November 2019

Blackstone invests big in Future Lifestyle Fashion

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Blackstone, globally the biggest private equity firm, has invested a whopping Rs. 1,750 crore in Future Group’s flagship fashion business – Future Lifestyle Fashion.

The private equity firm is investing in Ryka Commercial Ventures, the holding company of Future Lifestyle Fashion, through debentures which will be used to retire or pre-close all existing financial obligations.

Blackstone is infusing capital combining equity and structured debts. This will fund the capital expansion of Kishore Biyani’s deep-discount retail format ‘Brand Factory’.

Notably, Brand Factory is modelled on American retailer TJ Maxx.

July 2019 had seen Blackstone acquiring around 6 per cent stake in Future Lifestyle Fashion for about Rs. 545 crore in a secondary market transaction.

Kishore Biyani and his family owns 53.4 per cent of Future Lifestyle Fashion through various entities including Ryka Commercial Ventures.

Source:-https://in.apparelresources.com/

    
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