Future Lifestyle Fashions, an incorporated fashion company operating over 4 million square feet of retail space, is in talks to acquire Pepe Jeans India, a fully-owned subsidiary of Barcelona-based Pepe Jeans Group, which has 200+ stores in the country.
Reportedly, the deal is expected be inked at over Rs. 1,200 crore with L Catterton, which has investments in Pepe and FLF. The due diligence is over and the acquisition will be announced in a few days,” said one of the people.
The company will merge Pepe Jeans India and Lee Cooper to enhance its casual wear portfolio and make it the biggest in the country. It’s been estimated that both the brands will account for Rs. 2,000 crore in retail sales.
It is being said that Pepe’s popularity will help Future Group to grow in this segment. Similarly, Pepe will be able take advantage of the Future Group’s vast retail network pan-India.