Yerevan
Tbilisi
Moscow
Paris
Los Angeles
Beijing
English
Հայերեն Русский
Main Timeline Video Share
May the Holiday Warm Hearts: Idram and IDBank Support the Children of Heroes Beneficiaries of the "By Your Side" program at IDBank AraratBank Named Large CSR Company of the Year Idram Joins the Fight Against Food Insecurity Ucom’s Renovated Sales and Service Center in Yerevan Mall Reopens 1% idcoin instead of New Year’s suffering: practical tips Idram Junior Donated Books to Schools Big Christmas Market with Idram, IDBank and idplus Ucom Supports Wildlife Monitoring in Ararat Region IDBank, Idram, and idplus at the Big Christmas Market Converse Bank Deputy CEO and CFO, Grant Akopian, Elected to BACEE Board Ucom and SunChild NGO Install a Solar Plant in Alaverdi Kindergarten
Timeline
Idram and IDBank Participated in the Opening of My Forest Armenia’s Pavilion at COP17Unibank Receives B++ Sustainability Alignment Rating from Agents for Impact GmbH Ucom Supported Yerevan Conservation Symposium 2026 as Strategic PartnerIDBank to Showcase Environmental and Innovative Initiatives at COP17New AI-Powered Wildlife Monitoring Camera Installed in Paruyr Sevak with the Support of Ucom35 Years of Trust: IDBank Celebrates with Its CustomersBusiness and mining leader Mark Cutifani to deliver keynote speech at the 3rd Mining Armenia Forum“From Classroom to Orbit”: With Ucom’s Support, “Space 1.0” Is Being Introduced in 15 Schools Across ArmeniaAfeyan Initiatives for Armenia Awards Grant to the Armenia Education Initiative to Expand the Teach For Armenia’s Seroond School Turnaround Program Ucom to Participate in COP17 Together with FPWC, Showcasing Their Environmental Partnership“The Golden Hour”: IDBank explains how to respond effectively to a scam attackNelli Kocharyan Presents Converse Bank’s Vision for Development of International Relations at the BACEE Conference BACEE International Conference Kicks Off with Converse Bank as Lead Sponsor Unibank has issued perpetual bonds with an annual coupon yield of 13.2% Ucom Measures the Environmental Impact of Its OperationsUnibank Offers USD-Denominated Bonds with an Annual Coupon Rate of 6% Ucom Becomes an Official Partner of the Armenia-UK Business Forum 2026Ucom Sales and Service Center at 20/52 Erebuni Reopens After Renovation Unibank Joins the Armenian Solar Energy AssociationThe Widely Discussed Dvin Crown Project. A New Visibility Platform for Brands Has Emerged in the Heart of Yerevan
All Timeline »
Society

Free Style issues Armenia’s first corporate bonds in the fashion retail sector, placed by Cube Invest

Free Style has issued corporate bonds, becoming the first company in Armenia to raise financing through bonds in the fashion retail sector. The placement of the bonds is being carried out by Cube Invest.

The bond issuance enables investors to participate in the financing of Free Style. The company is an official retail partner of a number of international fashion brands, including Levi’s, Puma, New Balance, Boggi Milano, Lee Wrangler, Jack & Jones, Cole Haan, as well as the brand portfolio of the Bestseller Group.

According to Mikayel Margaryan, Chief Executive Officer of Cube Invest, the bond issuance represents an important development for the investment market. “Our cooperation with Free Style allows investors to take part in a long-term financing process. The issuance of bonds also serves as a tool to enhance transparency and accountability. In the case of Free Style, we see an established business model and a clear development direction, and we believe this issuance may be of interest both for the company’s further growth and for investors,” he said.

The bonds have a coupon payment frequency of three months, with a coupon rate of 13 per cent. The maturity period is 36 months, with redemption scheduled for 24 December 2028. The total issuance volume amounts to AMD 1.5 billion. The nominal value of each bond is AMD 100,000, with a total of 15,000 bonds issued.

Free Style’s Director, Arman Harutyunyan, said the issuance is aligned with the company’s strategic plans. “Working with Cube Invest, we view the bond issuance as a financing instrument that supports the company’s medium-term development and the expansion of financial tools within the fashion retail sector,” he said.

An additional benefit is offered to purchasers of Free Style bonds. Alongside making an investment, bondholders are granted the opportunity to access the full range of products available across all Free Style stores through a preferential discount scheme.

Under the terms of the offer, a 30 per cent discount applies to the purchase of bonds worth AMD 3 million, a 40 per cent discount to purchases of AMD 8 million and above, and a 50 per cent discount to purchases of AMD 15 million and above. The offer is valid for three months from the date of bond purchase.

The discount scheme applies to the following brands, including Puma, Levi’s, Cole Haan, Jack & Jones, Lee Wrangler, Boggi Milano, New Balance, Vero Moda, Pepe Jeans, among others.

Free Style’s business development strategy and sustainable growth planning were carried out by Parvanyan Consulting, with the bond issuance forming part of that strategic framework.

Free Style operates in Armenia, Georgia and Uzbekistan, combining international fashion expertise with in-depth knowledge of local markets. The company’s activities include men’s classic and sportswear, as well as contemporary women’s fashion.

Cube Invest CJSC was established in 2017. In February of the same year, the company was registered with the Central Bank of Armenia and licensed to provide investment services. As of 2024, the company’s authorised capital amounted to AMD 720 million.

Founded in 2016, Free Style Group represents a portfolio of international fashion brands across the Armenian, Georgian and Uzbek markets. The company operates in the retail sector, developing both physical and online sales formats.