Home / Knowledge / News / HK-based Fung Capital to invest $30 mn in Future Logistic
HK-based Fung Capital to invest $30 mn in Future Logistic
21
Jul '09
Future Logistic Solutions Limited (FLSL), a Future Group company engaged in supply chain and logistics solutions for the consumption sector in India, announced an investment agreement for private equity investment with Fung Capital, the private equity investment arm of the families of Dr Victor Fung and Dr William Fung, the controlling shareholders of the Li & Fung Group.

This investment is unrelated to any of the Li & Fung Group companies. Fung Capital, will invest around US $30 million in Future Logistic Solutions Limited which will be used for the enhancement of the logistics infrastructure of the company, strengthening of the technology platforms and expansion of the supply chain network of the company.

Founded in 2007, FLSL is India's first and only end-to-end consumer logistics company with expertise in the supply chain management of consumer product categories of Fashion, Food, Home Products and General Merchandise. It operates 30 distinct supply chains for these categories that are managed simultaneously, each with its own distinct requirements and customized solutions. FLSL currently services over 1100 retail outlets across India, managing more than 2.6 million SKU's from a warehousing network spread over 3 million sqft in 30 major centers in India and a fleet of over 500 vehicles plying across the length and breadth of the country.

FLSL takes over the entire task of managing the supply chain from the consumer, distribution and retail companies so that they can focus on their core activities. It offers a single-window to all the supply chain solutions required by companies like factory-gate logistics, storage & fulfillment, retail store replenishments, movement (nationwide and intra-city), cold chain, freight forwarding, custom clearance, reverse logistics and distribution services.

FLSL also provides value-added services like inventory planning & control support, vendor management, supply chain network modeling, quality assurance, bar coding services, process & productivity management services and packaging solutions.

“We have always had deep admiration for the entrepreneurial energy and the professional expertise that the Fung brothers and the Li & Fung Group have developed in sourcing, logistics and distribution solutions for almost every well known retailer in the world. Now with Fung Capital as our partner, we hope to offer global expertise in building the next generation logistics solutions for the Indian consumption sector, improve supply chain efficiencies and bring down costs for consumers,” said, Mr. Kishore Biyani, Group CEO, Future Group.

“We are delighted with the opportunity to partner with the Future Group in this logistics venture, which represents our first investment in India” said, Mr Rajesh Ranavat, Managing Director, Fung Capital He added that India is witnessing strong growth of modern retail and in turn will drive the requirement for integrated national logistics providers like FLSL. “We are very impressed with Mr. Kishore Biyani's success in building India's largest consumer retail group and have full confidence in FLSL's management team led by Mr. Anshuman Singh to execute its strategy of building a world class logistics operation in India” concluded Mr Ranavat.


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search