INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Future Lifestyle Fashions (FLFL) jumped 5 per cent on Thursday after the company reached a conditional agreement with Koovs to
subscribe up to 29.9 per cent stake.
The agreement is subject to regulatory and procedural approvals.
The move will give Future Lifestyle
access to an online fashion platform, something that had been missing from its portfolio, said Jefferies in a note
With this online foray, the company will be able to operate an omnichannel play along with its physical store network and push its own
brand portfolio, the brokerage said.
The stock rose 5.56 per cent to hit a high of Rs 420.25 on the BSE.
"This investment would complement
the existing value chain for FLFL as an integrated branded fashion player
new ordinary shares at 10 pence per share, representing 24.8 per cent of the current issued share raising 5,787,660 British pound of cash.
