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Future Lifestyle, a Category Leader in which Key Long Term Investors Express Confidence

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Future Lifestyle, a Category Leader in which Key Long Term Investors Express Confidence
Future Lifestyle, a Category Leader in which Key Long Term Investors Express Confidence

Future Lifestyle Fashion (FLF or the Company), one of India’s largest integrated fashion companies, has been among the most consistent performers in the fashion industry in India. It has a 4-year compounded annual growth rate (CAGR) of 17.2% in revenue, including 9.0% same-store sales growth, and 18.6% in earnings before interest, taxes, depreciation and amortization (EBITDA) or operating profit. Its store-level economics compare very favourably with other fashion retailers in India, with capital efficiency metrics such as Return on Capital Employed at ~14%. The Company’s leverage is only 1.5x its EBITDA, a key measure of the health of its balance sheet. The core businesses of FLF are all cash flow positive and the Company does not require any external funds to achieve the planned growth and expansion that its largely independent board has set out for it.

~30% of FLF’s equity is owned by some of the world’s leading private equity players, ~46% effectively by Promoters. The company started its private equity partnerships way back in 2014 with Premji Invest, who has been actively involved in the Company’s business strategy historically. Since then the Company has attracted investments from Apollo-Aion, L Catterton and Blackstone.

Despite the last six months’ stock performance (with the stock price coming down ~46%), driven by a temporary consumption slowdown in India and a market-wide correction owing to the novel coronavirus outbreak, FLF’s large private equity shareholders expressed confidence in the Company and its future prospects. The Company has also clarified that 81% of the encumbered promoter shares are currently not pledged. These promoter shares have been ring-fenced by Blackstone, a reputable, institutional investor. At current prices, FLF is trading at an Enterprise Value/EBITDA multiple of 7.5x vs. sector average of approximately 25x, while its financial parameters compare favourably with sector leaders. The Company is currently proactively working to address and minimize the impact of the Covid19 outbreak.

Shailesh Haribhakti, Chairman and Independent Director, FLF said, “We have witnessed FLFL’s unique and differentiated formats and powerfully curated brands setting itself apart as Aspirational customers seek value and experiences on the back of strong business and financial model.” Mr. Shailesh Haribhakti is a career Chartered and Cost Accountant, and a Certified Internal Auditor, Financial Planner & Fraud Examiner. His career spans over four decades. He is currently Chairman of Shailesh Haribhakti & Associates, Chartered Accountants. Mr. Haribhakti is currently the Non-Executive Chairman of L&T Finance Holdings Limited, L&T Mutual Fund, Future Lifestyle Fashions Limited, NSDL e-Governance Infrastructure Limited and Blue Star Limited and holds key directorship in many large corporates.

Kishore Moorjani, Head of Blackstone Tactical Opportunities, Asia said, “We invested in a group company of FLF and as part of the transaction, in FLF, approximately 9 months ago. We have confidence in the Company’s fundamentals and long term potential. We support FLFL. Harish Manwani, ex-Unilever, currently a senior adviser in Blackstone’s portfolio operations team guides them on strategy, branding, merchandising and real estate. Luv Parikh, Managing Director, Blackstone, also acts as a Director on the Board. We believe the Company is uniquely positioned in the fashion industry in India.” Blackstone is one of the world’s leading investment firms with $571bn in assets under management.

Parth Gandhi, Senior Partner & MD – AION Capital (Part of Apollo, a leading US-based Private equity firm) said, “Our stake in FLF and our earlier investment in Ryka (promoter group entity) presents us with a unique and attractive opportunity to invest in a company with a diversified portfolio that includes Central, Brand Factory and an array of Brands. We believe FLF is well poised to take vantage position in India’s fashion and lifestyle market.” Apollo is one of the largest alternate asset managers with an AUM of $331 billion. AION has three verticals: private equity, credit and special situations and is the only private equity firm in India to have successfully bid for an asset under the IBC code.

FLF has a diversified portfolio of fashion assets, consisting of industry-leading full price large-format store Central, a unique off-price branded fashion store, Brand Factory, and an array of ~30 in-house brands like Lee Cooper, aLL, Cover Story, etc. that are sold across its retail channels as well as through third-party stores and e-commerce platforms. Catering to the diverse fashion needs of an aspiring India, FLF plays across all fashion categories including menswear, womenswear, formal, casual, western, ethnic, kids wear, as well as accessories. The Company serves its varied customer segments through 354 stores spread over 7.5 million square feet all over India. FLF’s integrated model of “design to distribution” is unique in the Indian fashion industry and it is well-positioned to maintain its leadership position in fashion retailing in India.

This story has been sourced from a third party syndicated feed, agencies. Bollywood Galiyara accepts no responsibility or liability for its dependability, trustworthiness, reliability, and data of the text. DigitalGaliyara (OPC) Private Limited management reserves the sole right to alter, delete or remove (without notice). If you have any concern with the Content, then please write to us at mail@digitalgaliyara.com Source link

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Actress Nikkita Ghag has shown her bold side for the first time

Nikkita Ghag is seen posing in a bold style while posing in a white bikini, while in the second photo she is posing by the swimming pool. At present, this bold photoshoot of Nikkita is becoming quite viral on Instagram

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Nikkita Ghag

Beautiful actress Nikkita Ghag is making a lot of headlines these days for her bold photoshoot. Let us tell you that Nikkita has posted her bold photo on Instagram, and she is getting very good responses and comments from her fans regarding these photos. Along with acting she is also the founder and chairman of Dawa. Under which she is running a unique campaign to protect against atrocities on animals. Not only this, Nikkita often posts news of her activity on Instagram.

Nikkita played the lead role in the horror-mystery short film ‘Anandi’. Apart from this, she is also going to be seen in some upcoming big projects of Bollywood, although she has kept the information about her upcoming project as secret. But recently, bold photos of Nikkita are becoming quite viral on social media, in which she is seen posing in a bold style while posing in a white bikini, while in the second photo she is posing by the swimming pool. At present, this bold photoshoot of Nikkita is becoming quite viral on Instagram and her fans are liking this bold style of hers

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Sonal Chauhan And Nora Fatehi rock the Neon green Midi Dress

onal Chauhan and Nora Fatehi who wore the same ruched corseted midi dress from the shelves of House Of CB and we cannot decide who wore it better.

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Sonal Chauhan And Nora Fatehi rock the Neon green Midi Dress

The Neon green colour palette has made its comeback in the gloomy, monsoon weather after being a major hit in the summer and spring seasons. Currently the neon green is a rage in Bollywood as the actors are seen sporting some uber cool outfits in different shades of the colour. Neons have always stood out in colours like ochre, mustard, and brights as well as pastels. Bollywood divas like Kriti Sanon and Rakul Preet Singh, to name just a couple, have captured our hearts with their beauty while wearing some breathtaking bright green clothing. But what caught our attention lately are Sonal Chauhan and Nora Fatehi who wore the same ruched corseted midi dress from the shelves of House Of CB and we cannot decide who wore it better.

ALSO READ | The backless green dress look of Urfi Javed

Sonal Chauhan

Sonal Chauhan has a keen eye for fashion and that can be seen through her sartorial choices. May it be the red carpet looks or street style fashion, Sonal adds a personal touch to every outfit and we love that about her. Seen like a ray of sunshine herself, Sonal made quite a statement in a neon midi dress from the clothing brand House of CB. The one-shouldered midi dress featured a corset bust line with a wrap detailing on the other shoulder and a body-con fit. The outfit showcased a plunging neckline and ruched details at the waist and downwards. Accessorizing the look with stud earrings and a delicate bracelet, the actor kept it simple and stylish. For makeup, she opted for dewy makeup with neatly done eyes and glossy lips.

Left: Sonal Chauhan, Right: Nora Fatehi

WATCH VIDEO : Rakul Preet Singh Spotted At Airport

Nora Fatehi wore it too on her trip to Dubai and stunned her fans. Nora looked phenomenal in the corseted midi dress in bright yellow which had one shoulder detailing, a plunging neckline and ruched details. The bodycon outfit accentuated Nora’s well-toned body. What added the oomph factor to the outfit was the pair of metallic heels the actor wore and the shiny gold mini bag she carried with the outfit. Leaving her mane loose, Nora opted for soft glam makeup with nude lip colour.

Its surely tough to determine who wore the neon midi dress better, Sonal or Nora?

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Rimzim Dadu and Saaksha & Kinni got ‘Spotlight Ready’ for the Lakmé Absolute Grand Finale at Lakmé Fashion Week 2020 Digital First Season Fluid Edition – Bollywood Galiyara

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Rimzim Dadu and Saaksha & Kinni got ‘Spotlight Ready’ for the Lakmé Absolute Grand Finale at Lakmé Fashion Week 2020 Digital First Season Fluid Edition
Rimzim Dadu and Saaksha & Kinni got ‘Spotlight Ready’ for the Lakmé Absolute Grand Finale at Lakmé Fashion Week 2020 Digital First Season Fluid Edition

Mumbai, 25th October 2020:  The extravagant Lakmé Absolute Grand Finale is something we all look forward to and this year was no different. Even in its first-ever digital avatar, Lakmé Fashion Week 2020 put the ‘Spotlight’ on the future of fashion and beauty with a stunning grand finale showcased by Rimzim Dadu and Saaksha & Kinni. Inspired by Lakmé’s beauty theme of ‘Spotlight Ready’, the ramp witnessed the gorgeous actor and Lakmé ambassador, Mrunal Thakur flaunting their collections.

The Lakmé Absolute Spotlight collection is all about the eyes with Eyeshadow Palettes in four dazzling variants along with the new Lakmé Absolute Micro Brow Perfector. The collection offers a diverse range of intense matte and shimmer shades that surely does encourage everyone to be always #SpotlightReady.

READ: Nishant Singh Malkhani talks about his favorite corner of the ‘Bigg Boss’ house

Following her tradition of using the ramp as her artistic canvas, Dadu immersed the concept of kinetic art with tech for a live virtual experience. The set up consisted of specially-programmed kinetic lights to create mesmerizing patterns – mimicking her unique styles of amalgamating art, technology, and craft. The perfectly timed ebb and flow of the lights followed the progression of the show in perfect harmony with her collection. The ultra-glam look for Rimzim’s collection was all about kohl rimmed eyes with the boldest shade from the latest Lakmé Absolute Spotlight collection. 

Saaksha & Kinni’s show was an impeccable display of vibrant colors, prints and textures with every single piece designed to celebrate the Banjara tribe and the resilience of the women. Its tribal-inspired clusters represented the nomadic lifestyle whilst adding depth through clean white spaces and dimensions through pillars in its virtual representation. In sync with their collection, the look was very fresh with a slight sheer on the lips and bright hues on the eyes from the latest Lakmé Absolute Spotlight collection.

READ: Athiya Shetty to turn muse for designer Aisha Rao on Day 5 of Lakmé Fashion Week

“My association with Lakmé Fashion Week goes way back in 2007 when I started with GenNext and here I am today, as the Lakmé Absolute Grand Finale designer this season.  This was a whole new experience! It is wonderful to see how perfectly my concept of kinetic art synchronized with Lakmé theme of ‘Spotlight Ready’.” said, Rimzim Dadu, Lakmé Absolute Grand Finale Designer for Lakmé Fashion Week 2020 

Saaksha Bhat & Kinnari Kamat, Lakmé Absolute Grand Finale Designer for Lakmé Fashion Week 2020 said “Lakmé Absolute Grand Finale is very special as we started our fashion journey with Lakmé Fashion Week a few years back. This platform has time and again motivated and encouraged us to do more and better. This time through our collection, we have aimed at putting the Spotlight on the less celebrated tribe of Banjara women and their spirit with colors and prints in all their glory, that India has to offer.” 

“Walking the ramp as Lakmé Absolute Grand Finale showstopper for two such talented designers was nothing less than a dream come true. It was exciting to adorn their stunning collections and I hope to have done justice to it. They have beautifully brought alive the theme of ‘Spotlight Ready’ through their design as both my looks were created to match my finale outfits. This season was all about getting #SpotlightReady with the Spotlight eyeshadow collection and my favorite from the range has to be the Smokin Glam shade” says Mrunal Thakur, Lakmé Ambassador

Ashwath Swaminathan, Head of Innovations, Lakmé said, “This season our beauty theme is all about being #SpotlightReady, more so with the eyes in focus. Hence, we wanted the Lakmé Absolute Grand Finale too to put the spotlight on the future of fashion. Both Rimzim and Saaksha & Kinni’s collections and films were a great finish to the first-ever digital-first, season fluid edition of Lakmé Fashion Week.”

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Nikkita Ghag Nikkita Ghag
Bollywood4 weeks ago

Actress Nikkita Ghag has shown her bold side for the first time

Nikkita Ghag is seen posing in a bold style while posing in a white bikini, while in the second photo...

Sonal Chauhan And Nora Fatehi rock the Neon green Midi Dress Sonal Chauhan And Nora Fatehi rock the Neon green Midi Dress
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Sonal Chauhan And Nora Fatehi rock the Neon green Midi Dress

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