Future Lifestyle's Cover Story: May Go To Reliance Retail
25 June 2022, Mumbai:
Edelweiss is in talks to sell Future Lifestyle's Cover Story to Reliance Retail.
Future Retail to sell fast-fashion brand Cover Story for Rs 200 crore while the Kishore Biyani-owned retail firm is in talks with Thrasio-style GOAT Brand Labs and Mensa Brands to sell apparel labels Jealous 21 and aLL, said people with knowledge of the developments.
"Cover Story is mortgaged with Edelweiss Asset Management, which is one of the lenders and is owed about Rs 600 crore from FLF," said one of them.
"Jealous 21 and aLL are being sold directly by FLF to pare debt and is part of a wider divestment plan that includes selling a few other brands.".
CREDITS: ET (The news article has not been edited by DFU Publications staff)
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