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L Catterton Asia backs department store chain

L Catterton Asia, the Singapore-based LVMH private equity fund, has invested Rs 170 crore (US$24.9 million) into India’s Future Lifestyle Fashion (FLF) department store chain.

FLF runs Brand Factory, Central and more than a dozen brands including Indigo Nation and Lee Cooper.

With a total retail space of 5.4million sqft across 90 cities, FLF has a diversified portfolio of more than 30 brands. The company has been logging double-digit same-store sales growth in past four quarters, say analysts.

Within its portfolio of owned, licensed and investee brands, the company has identified six power brands to drive growth, which are contributing about 64 per cent of its total brands.

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